Global Industries Confirms Four Employees Taken Hostage in Nigeria

Global Industries, Ltd. confirmed that one of its construction vessels, the DLB Cheyenne operating offshore Nigeria, was forcibly boarded last night by currently unidentified armed militants. Four of the Company's employees were abducted. One Nigerian crew member and three Nigerian naval personnel sustained non-life threatening injuries and were treated onsite by Global's medical personnel. The families of the Global employees involved in the incident have been notified.

The Company's Emergency Management Teams in Nigeria and Houston have been activated. Global Industries and security experts specializing in hostage situations are actively working with the United States Department of State and the Federal Bureau of Investigation as well as Nigerian governmental authorities to secure the safe return of the Company's employees. In addition, all of Global's vessels and crews in the region have been relocated.

B.K. Chin, Chief Executive Officer of Global Industries, stated, "The safety of our employees is our number one priority. We are taking all actions to secure the safe and speedy return of the employees involved in this incident and to safeguard our workforce in the region."