MIS 3

2/20/2008 12:00 AM

Friede & Goldman has entered into contract withMaritime Industrial Services, MIS, (Sharjah) onFebruary 28, 2008 for the licensing of 2 F&G designedSuper M2 jack-up drilling rigs, Hulls 106 & 108.

An additional 2 agreements were signed for F&Gto provide their patented Rack Chock leg fixation systemfor the mobile offshore drilling units.

These agreements bring the total of F&G Super M2’scurrently under construction at MIS to five (5).