J. Ray McDermott Extends Tender Offer

J. Ray McDermott, S.A., a subsidiary of McDermott International, Inc. (NYSE:MDR), has extended the expiration date of its previously announced cash tender offer and consent solicitation (collectively, the "Offer") to purchase all of J. Ray's outstanding 11% Senior Secured Notes due 2013 (the "Notes"). As a result of the extension, the Offer will expire at 5:00 p.m., New York City time, on June 5, 2006, unless further extended (the "Expiration Date"). J. Ray has extended the Offer in order to allow for additional time in an effort to satisfy one of the conditions to the Offer, the completion of a proposed credit facility.

This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of an offer to sell securities, with respect to any of the Notes. The Offer is being made solely pursuant to the terms of the Statement and related Letter of Transmittal and Consent. Each Note holder should read the Statement and accompanying documents, as they contain important information.

J. Ray McDermott is a leading provider of engineering, procurement, construction, and installation services for offshore oil and gas field developments worldwide. McDermott International, Inc. is a leading worldwide energy services company. McDermott's subsidiaries provide engineering, construction, installation, procurement, research, manufacturing, environmental systems, project management and facility management services to a variety of customers in the energy and power industries, including the U.S. Department of Energy.


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