Horizon Offshore, Inc. elected David W. Sharp
, currently its Executive Vice President and Chief
Financial Officer, as President and Chief Executive Officer. Mr. Sharp also was elected to the Company's board of directors for a term expiring in 2007 to fill the vacancy caused by the resignation of Bill
J. Lam in December, 2004. The Company also announced the promotion of Ronald D. Mogel, currently Vice President International Accounting and Tax of the Company's subsidiary Horizon Offshore Contractors, Inc., to Chief Financial Officer. The elections will be effective on April 30, 2005. Richard A. Sebastiao of RAS Management Advisors, Inc., a turnaround and management consulting firm, who functioned as the Company's Chief Restructuring Officer and principal executive officer since August 30, 2004, has resigned, also effective on April 30, 2005.