Page 10: of Maritime Reporter Magazine (September 1997)

Seacor Smit Enters Rig

Alliance; Reports Earnings

Seacor Smit Inc. and Chiles

Offshore announced an agreement for a strategic alliance under which Seacor will invest $9 million in Chiles — of which it will become half-owner — and will commit $26

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Offshore Systems Receives $2.3 Million Order

The Canadian Coast Guard has reportedly purchased 24 units of

Offshore Systems' electronic chart precise integrated navigation sys- tems (ECPINS). The $2.3 million order is the second phase of a 36- system installation program, and the systems will be used in buoy tending, icebreaking, search and rescue, fisheries patrol and train- ing operations.

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Fax: (561) 994-3969 million to investment in rig-own- ing partnerships.

Chiles Offshore also announced a contract with Amfels, Inc. for the construction of a second rig, a

LeTourneau Super 116 jack-up drilling unit.

Seacor Chairman Charles

Fabrikant said, "We believe that new, modern jack-up rigs will be a fruitful investment and provide returns on capital consistent with our corporate objectives. We also believe there are synergies between the rig business and the boat business and Seacor's global marketing network and broad cus- tomer base will contribute to each other."

Seacor Smit Inc. recently announced net earnings for the second quarter of this year of $38 million, or $2.75 per primary share on revenues of $85.2 million. The company sold 22 vessels in the six months ended June 30, namely seven supply, five utility, four tow- ing supply, three AHTS, two crew and one freight vessel. In the com- parable quarter ended last year,

Seacor earned $6.9 million per pri- mary share on revenues of $52.6 million.

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The U.S. Navy awarded a con- tract worth nearly $3 billion to

Lucent Technologies Inc., GTE

Government Systems Corp., Bell

Atlantic Federal Integrated

Systems Inc. and AT&T

Government Markets for voice, video and data modernization of

Navy telecommunications. The contract is expected to be complet- ed by July 2007.

AT&T Corp. withdrew its bid after the announcement. "We bid on the whole contract but were allotted only a portion, so under those circumstances, we withdrew the bid," said a company spokesperson.

Navy Awards $41 Million IT |

Contract

DynCorp subsidiary DynTel won a $41 million contract to provide

IT support to eight local centers of| the Naval Education and Training

Professional Development and

Technology Center. The one-year contract includes three option years, over which time the compa- ny's services will include computer systems administration, network system management support, soft-

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