FGH Retains Chief Restructuring Advisor

October 19, 2001

Friede Goldman Halter Inc., announced that it has engaged Glass & Associates, Inc., a national crisis-management firm, to serve as its Chief Restructuring Advisor. Jack R. Stone, Jr., principal of Glass, will serve in that capacity and will report directly to the Restructuring Committee of the Board of Directors. Stone will oversee all restructuring activities, working closely with company management and the investment-banking firm of Houlhan Lokey Howard Zukin. This action was taken to provide a separation of the restructuring effort from the day-to-day business operations, which are under the direction of John F. Alford, CEO.

FGH Retains Chief Restructuring Advisor

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