Taylor Elected As Chairman of Tidewater Inc.

Dean E. Taylor has been elected as Chairman of its Board of Directors at Tidewater Inc. Taylor will also retain the positions of President and Chief Executive Officer, which positions he has held since October 2001 and March 2002, respectively. He is replacing William C. O'Malley, who has served as Chairman of the Board since 1994. O'Malley will continue as a director of the Company, having been reelected by shareholders to a three year term ending in July 2006.