DEEP Superior Offshore Intl (MM)

HOUSTON, Jan. 28 /PRNewswire-FirstCall/ -- Superior Offshore International, Inc. (NASDAQ:DEEP) today announced that its Board of Directors has unanimously approved the appointment of E. Donald Terry, currently an independent director of Superior Offshore, as the Company's Interim President and Chief Executive Officer until a successor is named, effective immediately. Mr. Terry's appointment followed James J. Mermis' resignation as President, Chief Executive Officer and a director of the Company. Mr. Mermis plans to join Kaplan Industry as its President of Technical Operations. James L. Persky, Superior Offshore's independent Chairman of the Board, said, "Don Terry is the natural choice to lead Superior Offshore during this interim period. Don comes to Superior Offshore with a wealth of operational and leadership expertise earned during his 45 years in the subsea construction and commercial diving industry. His extensive experience in our industry gives him immediate insight into the business and operations of Superior Offshore and the needs and expectations of our customers. He has a solid track record of helping companies successfully take advantage of new opportunities while addressing current challenges." Louis E. Schaefer, Jr., Superior Offshore's founder and largest shareholder, said, "I am extremely pleased that Don Terry has agreed to lead Superior Offshore. Don has successfully founded, grown and managed a number of subsea construction and commercial diving companies and, as a current independent director, he is already familiar with the Company and its customers and dedicated employees. I am confident that Don will provide Superior Offshore with leadership and stability and I fully support his appointment as interim CEO." Mr. Terry said, "I am honored that the Board has selected me to lead Superior Offshore on an interim basis, and I am excited about Superior Offshore's significant strengths and dedicated employees. Working with the Superior Offshore team, I am fully committed to continuing the Company's focus on operational excellence and superior customer service and I will work to grow the Company and deliver value to our shareholders." About E. Donald Terry Mr. Terry has over 45 years of experience in the subsea construction and commercial diving industry. Mr. Terry has been an independent director of Superior Offshore since April 2007. During 2003, Mr. Terry was a consultant for Horizon Offshore, Inc., a provider of marine construction services. From 1998 to 2000, Mr. Terry was Chief Executive Officer and Chairman of the Board of Terry Offshore, Inc., an offshore energy services company. From 1995 to 1998, Mr. Terry was Worldwide General Manager of McDermott Underwater Services, a marine underwater engineering and construction company. From 1992 to 1995, Mr. Terry was Vice President of Offshore Pipelines, Inc., a marine engineering and construction company. From 1988 to 1992, Mr. Terry was President and Chief Operating Officer and a director of Offshore Petroleum Divers, Inc., an offshore commercial diving company, which he co-founded in 1988. From 1979 to 1988, Mr. Terry served in a number of capacities with Cal Dive International Inc., an offshore commercial diving company, including as President and Chief Operating Officer from 1985 to 1988, Vice President -- Americas from 1981 to 1985, and a director from 1979 to 1988. About Superior Offshore International, Inc. Superior Offshore is a leading provider of subsea construction and commercial diving services to the offshore oil and gas industry, serving operators internationally and domestically in the outer continental shelf of the U.S. Gulf of Mexico. Construction services include installation, upgrading and decommissioning of pipelines and production infrastructure. Commercial diving services include inspection, maintenance and repair services and support services for subsea construction and salvage operations. The company also operates a construction/fabrication division. Superior Offshore operates a fleet of nine service vessels and provides remotely operated vehicles (ROVs) and saturation diving systems for deepwater and harsh environment operations. Forward-Looking Statements Certain statements contained in this news release are forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements by their nature involve substantial risks and uncertainties that could significantly affect expected results, and actual future results could differ materially from those described in such statements. Although it is not possible to identify all factors, we continue to face many risks and uncertainties. Some of the factors that could cause actual future results to differ materially are described under the caption "Risk Factors" in our Prospectus, dated April 19, 2007 and filed with the Securities and Exchange Commission ("SEC") on April 20, 2007, and our other filings with the SEC, which may be obtained by visiting the Investor Relations section of our website under "Financial Information" at http://www.superioroffshore.com/ or from the SEC's website at http://www.sec.gov/. Contacts: Superior Offshore International Roger Burks, Executive VP & CFO 713-910-1875 DRG&E Ken Dennard 713-529-6600 DATASOURCE: Superior Offshore International, Inc. CONTACT: Roger Burks, Executive VP & CFO of Superior Offshore International, +1-713-910-1875, ; or Ken Dennard of DRG&E, +1-713-529-6600, Web site: http://www.superioroffshore.com/

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