Cal Dive to Invest $150,000,000 in Unique Deepwater

Vessel HOUSTON (PROTEXT) - Cal Dive International, Inc. (Nasdaq:CDIS) announced that its Board of Directors has voted to proceedwith construction of the Q4000, a newbuild, ultra-deepwatermulti-service vessel. The semisubmersible Q4000 will have aunique column-stabilized design that combines excellent station-keeping capability with large deck space (15,000 square feet),significant deckload capacity (4000 tons) and high transit speed(12 knots). It will be configured to work in the deepwaterdepths, and in particular to carry out construction and wellservicing operations in deepwater environments worldwide,including the Gulf of Mexico, Brazil and West Africa.Introduction of the vessel will be in mid 2001. Working in water depths to 10,000 feet the vessel will becapable of: well completion and tree setting; template and moduleinstallation; intra- field flowline and umbilical lay; wellintervention; steel pipelay (J-lay or reel-lay); life of fieldsupport, repair and maintenance; and field decommissioning. Owen Kratz, Chairman and Chief Executive Officer, stated that"In developing the Q4000 we have drawn upon the experience andlessons learned on complex deepwater projects with the Uncle Johnand have combined that knowledge with our clients' input toprovide for their future deepwater needs. No one has explored thecost synergies of well completion and tree setting in a wrap-around contract with construction. Our studies indicate that theQ4000 can deliver cost savings of 15% - 20% to our customers.This major strategic investment clearly demonstrates ourcommitment to excel in the deepwater marketplace." Cal Dive International, Inc. operates a fleet of technicallyadvanced marine construction vessels and conducts salvageoperations in the Gulf of Mexico. ots Original Text Service: CalDive International, Inc. Internet: http://www.newsaktuell.deContact: Jim Nelson, Executive Vice President of Cal DiveInternational, Inc., 281-618-0400 Company News On-Call:http://www.prnewswire.com/comp/124374.html or fax, 800-758-5804,ext. 124374 Web site: http://www.caldive.com

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