Gulf Island Fabrication Inks Fabrication, Integration Contract in GOM

Gulf Island Fabrication announced that, through its subsidiary Gulf Marine Fabricators, L.P., it has signed a contract for the fabrication and integration of the topsides on a deep-water Gulf of Mexico project. This is the same project associated with the Letter of Authorization received and announced in September. Terms of the contract and customer remain undisclosed. Revenue backlog and man-hours will be included in the Company's consolidated backlog to be reported when the Company announces its earnings results for the year ended December 31, 2010.

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