ABG 3

10/6/2008 12:00 AM

Friede & Goldman has entered into a contract withABG Shipyard Ltd. (India) on October 6, 2008 for(1) one F&G designed JU-2000A jack-up drilling rig.

ABG also signed an agreement for F&G to providetheir patented Rack Chock leg fixation systemand Jacking System for the newbuild jack-up

Additionally, ABG contracted on the same datefor F&G to provide their skidding system for the unit.

This contract marks the fourth JU-2000A jack-up to beconstructed at ABG.

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