Signal Delivers Under Budget - 06/16/2008
Foreign Nationals Recruitment Fraud Advisory - 05/06/2008
Signal announces appointment of Chief Operating Officer - 04/15/2008
Signal calls on Congress to mandate licensing requirement for H2B temporary worker program - 03/27/2008
Signal Wins Crosco contract - 01/31/2008
Signal International Launches Ocean Quest - 01/25/2008
Signal International Completes Share Offering - 01/17/2008

Signal International Wins Rig Modification Work - 09/21/2007
Signal Achieves One-Million Safe Man-Hours - 07/30/2007
Signal International Completes Pride New Mexico - 07/27/2007
Signal International Delivers TLP Hull - 05/18/2007

Signal Delivers Under Budget

PASCAGOULA, MS – 06 June 2008 – Signal International has announced the seven-day early delivery of the upgraded Noble Amos Runner semi-submersible drilling rig. The shipyard work, which was done at Signal's Pascagoula East facility, was dedicated primarily to enhancement of the NAR's ability to maintain station during severe weather. The workscope included:

• Complete mooring upgrade to NC5 rating
  
  
• Augmentation of the mooring equipment from a nine point spread to a twelve point spread
  
  
• Installation of 520 tons of column water plane tanks for added
  stability enhancements
  
  
• Installation of 270 tons of windlass deck extensions for added
  mooring winches
  
  
• Modification of the column anchor bolsters to accept larger-capacity anchors
  
  
• Painting of the columns & diagonals
  
  
• Complete five year ABS survey
  

The Amos Runner has returned to drilling operations in the Gulf of Mexico.

For more information, contact:
Joe Roche
Tel: 281-899-2121
E-mail: jroche@signalint.com

Signal International Announces Appointment of Chief Operating Officer

PASCAGOULA, MS – 15 APRIL 2008 – Signal International is pleased to announce the promotion of Mr. Ron Schnoor to the position of Chief Operating Officer (COO) effective immediately. Mr. Schnoor will oversee operations for Signal’s Mississippi and Texas facilities with primary responsibilities for project management, planning, engineering, manufacturing, and procurement. In addition, Quality Assurance and Health, Safety, and Environmental services will report to him.

As COO, Mr. Schnoor will report directly to Richard Marler, Chairman, CEO and President of Signal. “Ron’s experience, dedication and proven track record make him uniquely qualified for the job," said Richard Marler, CEO. "Ron will continue driving operational improvements and I look forward to him further improving all company operations in his expanded role."

Signal is a diversified marine construction firm engaged in the repair, upgrading and conversion of offshore oil and gas rigs as well as the construction and repair of civil and governmental marine transport. Signal operates six shipyards and employs approximately 3,000 people in Pascagoula, MS; Port Arthur, TX; Houston, TX; and Mobile, AL.

Schnoor joined Signal International as part of the start up management team when Signal was formed in January 2003. Prior to his current appointment Mr. Schnoor served as Senior Vice President and General Manager of the Mississippi Operations. He will continue in that role in addition to his COO duties.

For more information, contact:
Joe Roche
Tel: 281-899-2121
E-mail: jroche@signalint.com

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Signal Calls On Congress To Mandate Licensing Requirement For H2B Temporary Worker Program

PASCAGOULA, MS – 27 MARCH 2008 – Signal International President and CEO Richard Marler announced today that Signal will no longer hire new temporary workers under the H2B Program until it is reformed to better protect foreign workers and U.S. companies that were misled by recruiters. Download and view response.

Signal is committed to its current temporary workers and will continue to help them get the visas necessary to remain at the company. Signal will also pursue claims against Global Resources, its principal Michael Pol, other recruiters, and immigration attorney Malvern Burnett for charging the temporary workers excessive fees and making false promises about the green card process.

Hurricanes Katrina and Rita destroyed the homes of many Signal workers. Faced with a shortage of both workers and housing in Mississippi and Texas, Signal relied on the recruitment firm Global Resources and others to bring temporary workers from India to the Gulf under the H2B Program in 2006.

Signal built on-site housing for the temporary workers given the shortage of local housing after the two hurricanes. Currently, the average temporary worker at Signal earns $19.69 an hour plus overtime, and Signal pays the workers at or above the local prevailing wage for fitters and welders established by the Mississippi Department of Labor. Depending on skill levels, the workers can earn up to $20.05 an hour plus overtime.

In addition to their hourly wages, Signal provides the temporary workers with the same benefits as other Signal workers, including health, vision, dental and life insurance, sick and vacation pay, long-term disability, and participation in company matching savings programs.

"In light of these facts, we think anyone who uses the word 'slave conditions' has little respect for the truth or the use of that phrase," Mr. Marler said.

After the workers began to arrive in the United States, Signal learned that the recruiting companies and Mr. Burnett had misled Signal and deceived the workers during their recruitment in India by demanding highly excessive fees and making false promises about the green card process.

Signal demanded over one year ago that Global Resources return to Signal's workers the excessive fees Global Resources had charged them, and, when Global Resources refused, Signal fired the firm.

"Signal had never used the H2B program before and mistakenly put our trust in the wrong people. I was outraged to learn how the workers were misled before joining Signal. We have always treated our employees with honesty, dignity, and respect, including our temporary workers," Mr. Marler said.

"The H2B temporary-worker law should be reformed. Workers and the U.S. companies who need them would all benefit if Congress and other countries required recruiters to be certified or licensed to prevent temporary workers and their U.S. employers from being misled about the nature of their visas or being victimized by outrageous fees. This would allow oversight of the recruiting process which, in my opinion, is a much-needed addition to the program," Mr. Marler said.

"Both Signal and our employees were misled. We are going to stand by our workers and do what we can to help them get justice. The recruiters' abuses cannot be tolerated,” Mr. Marler said.

Background Information

Signal International has played and continues to play a vital role in the economic rebuilding of the Gulf Coast after Hurricanes Katrina and Rita. Signal’s temporary workers are making up for skilled labor shortages caused by the storms. Under the H2B Program, Signal employs fitters and welders who come from India as temporary workers.

Apart from their pay and benefits, Signal's Indian temporary workers pay a $35 per diem to live in Signal-provided housing, which meets OSHA standards. The per-diem services include lodging, three meals per day, laundry service that includes washing and folding, satellite television (featuring North and South India programming), internet access, transportation available 24 hours per day, 7 days a week to and from shopping areas, churches, medical appointments and other local destinations of choice, free local telephone calls, and access to long-distance services.

For more information, contact:

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Signal Wins Crosco Contract

PASCAGOULA, MS – 31 JANUARY 2008 – Signal International, LLC has announced that its Pascagoula Mississippi east shipyard will upgrade The Zagreb I, a semi submersible drilling rig, for Crosco; the offshore drilling contractor headquartered in Croatia. The work is scheduled to commence in mid-February upon completion of a wet tow of the rig to the Gulf of Mexico from the Ivory Coast of Africa.

The work will include replacement of deck cranes, living quarters upgrade, mud system modifications and regulatory authority special survey. It is estimated that the work will take two months to complete.

Regarding this project, Dick Marler, Signal’s Chairman, comments: “This work affords Signal International another opportunity to build upon its track record of excellence in the business of offshore rig upgrades. Our well-positioned yards in the Gulf of Mexico continue to reach international customers as well as serving U.S. drillers and E&Ps. This will be our first time to work directly with Crosco and we expect to win them over as another satisfied client.”

Upon completion of the shipyard work, the rig is contracted to mobilize to the Mexican Gulf of Mexico, where it will drill for Pemex.

Signal International, LLC, is one of the largest marine and fabrication companies in the Gulf of Mexico providing repair, upgrade, new construction and fabrication services to the offshore and marine industry. Headquartered in Mobile, Alabama, Signal currently employs over 3,000 workers in its six production facilities, two in Mississippi and four in Texas.

For more information, contact:

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Signal International Launches Ocean Quest

PORT ARTHUR, TX – 25 JANUARY 2008 – Signal International announced the successful completion of the Diamond Offshore "Ocean Quest" semisubmersible drilling rig which was docked at the Port Arthur dry dock to ensure compliance with ABS Special Survey requirements and to repair hurricane damage to the main pontoons and bracing.

The main deck was also spot-repaired while the underside of the entire main deck structure was blasted and painted. The scope of work was expanded to include ballast piping manifold replacement in both main pontoons.

Additional work included upgrade of the mooring fairleaders by installing piping to load cell pins, renewal of piping in some of the columns, installation of sacrificial anodes, miscellaneous fabrication projects and support of chain removal, inspection and re-installation.

For more information, contact:

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Signal International Completes Share Offering

PASCAGOULA, MISSISSPPI – 17 JAN 2008 – Signal International announced the successful completion of a sale of shares. The transaction was completed under Rule 144a of the Securities Exchange Act. Terms of the transaction were not disclosed.

Signal is a diversified marine construction firm engaged in the repair, upgrading and conversion of offshore oil and gas rigs as well as the construction and repair of civil and governmental marine transport. Signal operates six shipyards and employs approximately 3,000 people in Pascagoula, MS; Port Arthur, TX; Houston, TX; and Mobile, AL

ACON Investments, LLC, a Washington, D.C.-based private investment firm, had purchased Signal from the bankruptcy estate of Friede Goldman in 2003 and will retain a minority ownership position in the firm. Over the past five years Signal has grown significantly, diversifying both its customer base and its business mix.

Signal’s success has been spearheaded by its CEO, Richard Marler. Following this transaction, he will continue to lead the Company as both its CEO and now Chairman of the Board. Marler is an established marine construction executive with over 30 years experience in the industry. Marler sees continued growth for the Company. “Our markets remain strong and we are poised to take on additional work in both the energy and general heavy marine fabrication,” he said. “ACON has been an outstanding partner and a driving force in ensuring we had the resources for growth.”

“We are pleased with the institutional support of the offering and we will continue to work hard to bring value to our shareholders. The employees and management of Signal are proud of the recognition that our new investors have given Signal,” Marler added.

Signal was represented in the transaction by Hogan & Hartson.

About ACON ACON Investments is a Washington, D.C.-based private equity firm with offices in Los Angeles and Madrid. Founded in 1996, ACON manages private equity funds and special purpose investment partnerships with investments in the United States, Europe and Latin America, and has approximately $1.5 billion of capital under management. ACON pursues a theme-based investment strategy by focusing on industries or businesses at key inflection points in their development and pursues these opportunities in close partnership with established management teams. ACON has been a longtime energy investor executing recent investments in various energy sectors, including power infrastructure and energy services as well as upstream and midstream oil and gas.

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Signal International Wins Rig Modification Work

PASCAGOULA, MISSISSPPI – 21 SEP 2007 – Signal International announced it has been awarded a contract to upgrade the Atwood Oceanics Richmond submersible drilling unit. Upon completion of drilling the current well, the Richmond is anticipated to arrive at the Signal Mississippi yard late September for a life enhancement upgrade.

While at Signal’s Pascagoula, Mississippi facility, the Richmond will undergo:

• Waste tank replacement
• High pressure mud piping to replace existing piping
• Tank steel replacement as necessary
• Tank coatings renewal
• Tank Gauging system installation
• Tank ventilation improvements
• Mud pit steel replacement as necessary
• Sounding tube repairs
• Superstructure repairs

“This job typifies Signal’s core business said Dick Marler, CEO and President of Signal International. Signal has the wherewithal to readily understand our customer’s objectives and to deliver exactly what the customer specifies on time and within budget.”

The Atwood Oceanics Richmond was originally built in 1982 and has seen previous upgrades in 1986 and 2000. As a column stabilized submersible drilling unit, the Richmond is towed to drilling location, then ballasted to land its pontoons on the seabed. The maximum water depth limitation for the Richmond is 70 ft.

Signal International, LLC, is one of the largest marine and fabrication companies in the Gulf of Mexico providing repair, upgrade, new construction and fabrication services to the offshore and marine industry. Headquartered in Pascagoula, Mississippi, Signal currently employs over 2,500 workers in its six production facilities; two in Mississippi and four in Texas.

For more information, contact:

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Signal International Achieves One-Million Safe Man-Hours

PASCAGOULA, MISSISSPPI – 30 JULY 2007 – Signal International recently achieved over one-million man-hours without a US Department of Labor OSHA recordable incident. This remarkable safety performance follows the announcement of the Shipbuilder’s Council of America (SCA) 2006 safety awards. For the fourth consecutive year, Signal International has been a recipient of the Excellence in Safety award with one of the lowest total recordable incidence rates in the industry.

This historic milestone was achieved on July 22, 2007. Dick Marler, Signal International’s CEO commended Ron Schnoor, Senior Vice President and General Manager of its’ Mississippi operations for personally developing the policies and procedures necessary to insure a safe working environment. According to Marler, “Ron is committed to the resolute execution of our safe working plan, which benefits our employee’s and customer’s alike. Working with Pat Killeen, Signal’s Corporate Director of Safety, Schnoor has been the driving force behind crafting Signal’s exemplary safety program.”

A shipyard is a busy place where several thousand employees are involved in a variety of operations taking place all at the same time. From heavy fabrication, to welding, sandblasting, or installation of sophisticated instrumentation and inspection; the yard is busy with activity. The Mississippi facilities have logged 1,070,232 man-hours without a recordable incident since April 27, 2007. Since January 2007, the entire operation has worked 2,785,370 man-hours, and has a total recordable incident rate of 0.21. This is approximately 3% of the industry incident rate. The 2006 average for the shipyards associated w/the Shipbuilders Council of America (SCA) is in the range of 7 – 7.5.

Ron Schnoor credited the organization’s customer base for their support in guiding Signal’s safety success. He commends his safety management personnel for their leadership and commitment and most importantly, the nearly 2000 Signal employees for their constant adherence to our safety procedures. “I applaud our people for the jobs they do and their constant dedication regarding our safety procedures,” Schnoor said. “They’ve proven to themselves that they can work productively, performing high quality work without incident. We are extremely proud of this achievement.”

Signal International, LLC, is one of the largest marine and fabrication companies in the Gulf of Mexico providing repair, upgrade, new construction and fabrication services to the offshore and marine industry. Headquartered in Pascagoula, Mississippi, Signal currently employs over 2,500 workers in its six production facilities; two in Mississippi and four in Texas.

For more information, contact:

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Signal International Completes Pride New Mexico

PASCAGOULA, MISSISSPPI – 27 JULY 2007 – Signal International, LLC, has announced the completion of shipyard work and delivery of Pride International’s Pride New Mexico, a shallow water three-legged jackup drilling unit. The rig recently departed Signal’s Pascagoula yard and is en route to its drilling location in the Gulf of Mexico.

Originally built in 1982, the Pride New Mexico underwent an extensive refurbishment to ensure continued compliance with regulatory and safety standards. Signal’s scope of work included the addition of steel structural reinforcement to the interior leg columns; repairs to the jacking system; major renewals to the drill floor including the exterior hull and mat, wind walls and driller’s cabin.

Signal also blasted and painted more than 90% of the exterior surfaces of the Pride New Mexico, from the hull, to the drill floor, main deck, helicopter deck, and jacking houses. The rig’s living quarters were completely renovated and updated with a satellite system for Internet connections and the addition of a company man’s office and rig manager’s office.

“This project was an excellent opportunity to demonstrate our first-rate capabilities,” said Dick Marler, CEO and President of Signal International. “We excel in safety, quality and the ability to efficiently accomplish a substantial amount of work in a short period of time. Offshore drilling rigs are in high demand, commanding substantial day-rates. Our management and employees understand the sense of urgency when it comes to expeditiously returning rigs to drilling service in top-notch condition."

Pride International, Inc. is one of the world's largest drilling contractors. Pride provides contract drilling and related services to oil and gas companies worldwide, operating both offshore and on land in over 25 countries.

Signal International, LLC, is one of the largest marine and fabrication companies in the Gulf of Mexico providing repair, upgrade, new construction and fabrication services to the offshore and marine industry. Headquartered in Pascagoula, Mississippi, Signal currently employs over 2,500 workers in its six production facilities, two in Mississippi and four in Texas.

For more information, contact:

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Signal International Delivers TLP Hull

PORT ARTHUR, TEXAS – 18 MAY 2007 – Signal International, a major Gulf of Mexico builder and services provider for the offshore business, has announced successful completion of work on the hull unit for SBM Atlantia's Neptune SeaStar Tension Leg Platform.

The unit was floated off of Signal's Port Arthur, Texas dry dock on Wednesday, May 16th. The wet tow begins May 18th to location on BHP Billiton's Green Canyon 613 Block, located 99 nautical miles south of Port of Fourchon, Louisiana. First steel was ordered for the unit in June of 2005. As the job progressed, Signal's dedicated peak work force at the Texas facilities reached as high as 500.

The project consisted of fabricating the hull, including pontoons, and the hull jacket. Outfitting included external top connector buckets for the tendons that keep the platform on location. Also installed at Port Arthur were the supply boat bumper guards and the porches for supporting the export and flowline risers. At the production site, the hull assembly will be mated with the topsides platform where the production unit will be brought on stream.

Regarding the Neptune TLP construction project; Dick Marler, CEO and President of Signal International, has commented, "This job has been an important project for the company. The success reflects the pride of workmanship that goes along with a 'built in the USA' statement. The exceptional quality that Signal's Texas workers built into the Neptune TLP should contribute to many years of successful operation, helping to produce much-needed energy for America."

For more information, contact:

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