GulfMark To Redeem 8.75% Senior Notes Due 2008

GulfMark Offshore, Inc. called for redemption all of its $130,000,000 aggregate principal amount of 8.75% Senior Notes due 2008 that remain outstanding on the redemption date,August 23, 2004. The redemption price is 102.917% of the principal amount of the Notes, or $1,029.17 per $1,000 principal amount of Notes, plus interest accrued and unpaid to the redemption date. On July 2, 2004 the Company commenced a tender offer and consent solicitation for the Notes. On July 14, 2004, the Company received the consent of at least a majority of the aggregate principal amount of the outstanding Notes to amendments that eliminated substantially all of the restrictive covenants and certain events of default in the Indenture relating to the Notes. On July 21, 2004, the Company accepted and paid for $104,245,000 in aggregate principal amount, representing approximately 80%, of the outstanding Notes under the terms of the tender offer and consent solicitation. The tender offer for the Notes remains outstanding until 12:00 midnight, New York City time, on July 30, 2004, unless the offer is extended. Under the terms of the offer, the Company will pay to Holders who tender their Notes in the tender offer $1,002.90 per $1,000 principal amount of Notes, plus accrued and unpaid interest.