Conrad Wins Contract to Build Aluminum Vessel

Conrad Industries' subsidiary Conrad Aluminum, LLC won a $2.8 million contract to build a 175-ft. aluminum crew/supply vessel for Diamond Services Corporation of Amelia, La. Construction will begin in the company's new facility in Amelia in November with delivery scheduled for October 2004. When delivered, the vessel will immediately service the oilfield in the Gulf of Mexico. Kenneth G. "Jerry" Myers, Jr., Conrad's President and CEO, said, "We have received a number of indications of interest for projects for our new aluminum facility and are extremely excited to announce our very first contract award for aluminum vessel construction. This award demonstrates Diamond's confidence in our expanded capabilities." The vessel will have a 32-foot beam and hull depth of 14.5 ft. Diamond Services Corporation is providing the major machinery including main engines, generators, water jets, dynamic positioning systems and electronics. The vessel will be powered by four Cummins KTA38-M2 diesel marine engines driving four Hamilton HM-721 water jets. Wallace Carline, President of Diamond Services Corporation, said, "We are pleased to award this contract to Conrad. Conrad has always been recognized as a quality shipbuilder and we are confident in their abilities as they expand into the aluminum market. Their new site is impressive and we look forward to a continued successful relationship for both vessel construction and repair."