Conrad Industries Appoints Derbes CFO

Conrad Industries announced that the Board of Directors has named Lewis Derbes, Jr. as the company’s new vice president and chief financial officer, effective September 30, 2002. Lew has spent the past 5 years with Northrop Grumman’s Avondale Industries, Inc., recently as the vice president and controller. Lew joins Conrad with an extensive background in all areas of financial and accounting management, including SEC compliance and reporting. Prior to his service with Avondale, Darbes was an accountant with Deloitte & Touche. Conrad’s current CFO, Cecil Hernandez has elected to resign as CFO effective September 30, 2002 to pursue other business opportunities. Cecil will remain as an officer of the company through an agreed upon transition period and will remain as a director.