CPMEC

1/20/2006 12:00 AM

Friede & Goldman has entered into contract withChina Petroleum Materials & Equipment Corporation,CPMEC, (China) on January 20, 2006 for the licensingof 2 F&G designed MOD II Jack-up drilling rigs,currently under construction at Dalian Shipyard in China.

In addition, on June 1, 2006, CPMEC signed 2 agreementsfor the patented F&G Rack Chock leg fixation system foreach of the newbuild jack-ups.

For further information on CPMEC, please click the linkbelow to be directed to the company’s webpage.

http://www.cpmec.com.cn/english/
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Phone: (713) 952-3444
Fax: (713) 952-3443
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3151 Briarpark Dr., Suite 800, Houston, TX 77042