J.L. Holloway Resigns as Chairman of FGH

May 13, 2002

Friede Goldman Halter, Inc. announced today that J.L. Holloway has resigned from the company's Board of Directors. Holloway, 57, has been the Chairman of the Board since April 1997. He served as the Chief Executive Officer and President of Friede Goldman Offshore, Inc. (formerly HAM Marine, Inc.) from its formation in 1982 until April 1997. "The Board has accepted J.L.'s resignation and is grateful for the many years of service he has given to Friede Goldman Halter and its predecessors," said T. Jay Collins, Board Member and Chairman of the Restructuring Committee; "We wish J.L. the best in his endeavors."

J.L. Holloway Resigns as Chairman of FGH

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