Tidewater Reorganizes Management

Tidewater Inc. announced that, effective immediately, Cliffe F. Laborde, Larry T. Rigdon and Dean E. Taylor have been promoted to the level of Executive Vice President. Each will report directly to William C. O'Malley, Chairman, President and Chief Executive Officer.

Cliffe F. Laborde will continue as General Counsel of the company. His responsibilities will also include Corporate Administration, Information Technology, Employee Benefits, Insurance and Human Resource Management, including recruiting, personnel, training and vessel crewing, all on a worldwide basis. He will also assume responsibility for overseeing management of Quality Shipyards.

Larry T. Rigdon will continue his full operations responsibilities for the United States Gulf of Mexico, California and Alaska. He will remain the co-chair of Tidewater's new construction program, begun in January of this year, along with Chief Financial Officer Keith Lousteau. Rigdon's additional responsibilities will now include heading Tidewater's Engineering Division as well as offshore towing operations, all Far East operations including Singapore, Malaysia and Indonesia, Australia, the Arabian Gulf, Egypt and the Caspian Sea. Rigdon will also be responsible for coordinating U.S. domestic sales.

Dean E. Taylor will continue with full operations responsibilities in Brazil, Mexico, Trinidad and Venezuela. New areas of responsibility will include Angola, West Africa, Nigeria, and the North Sea. Taylor will also have responsibility for coordinating all International Sales activities.

Tidewater Inc. owns and operates over 570 vessels, the world's largest fleet of vessels serving the international offshore energy industry.