Hercules Offshore Prices Initial Public Offering

Hercules Offshore announces the pricing of its initial public offering of 9,200,000 shares of its common stock at $20.00 per share. Hercules offered 6,250,000 shares of common stock, while the remaining 2,950,000 shares were offered by selling stockholders. Hercules expects to receive approximately $115.1 million of proceeds from the offering, net of underwriting fees and estimated expenses. Hercules intends to use the proceeds to repay debt and for other general corporate purposes.

The offering is expected to close on November 1, 2005, subject to customary closing conditions. The shares have been approved to trade on the NASDAQ National Market under the symbol "HERO".

In addition, the selling stockholders have granted the underwriters an option to purchase up to an additional 1,380,000 shares to cover over- allotments, if any.

Credit Suisse First Boston LLC and Citigroup Global Markets Inc. are serving as joint bookrunning managers of the offering. Simmons & Company International, Deutsche Bank Securities Inc. and Howard Weil Incorporated are serving as co-managers.

Copies of the final prospectus related to this offering may be obtained from the Prospectus Department of Credit Suisse First Boston LLC, Eleven Madison Avenue, New York, NY 10010-3629, and from Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220.