ABG 2

8/18/2008 12:00 AM

Friede & Goldman has entered into a contract withABG Shipyard Ltd. (India) on August 18, 2008 for(2) two F&G designed JU-2000A jack-up drilling rigs.

ABG also signed agreements for F&G to providetheir patented Rack Chock leg fixation systemand Jacking System for the newbuild jack-ups.Additionally, ABG contracted on October 6, 2008,for F&G to provide skidding systems for each unit.