Gulf Island Fabrication Lands LOI for 2nd MinDOC T3 Hull Topsides

Gulf Island Fabrication, Inc. has received, through Gulf Island, L.L.C., a letter of intent from Bluewater Industries, Inc., who has contracted with ATP Oil & Gas Corporation, for the topsides on the second MinDOC T3 hull for ATP's Telemark Hub deepwater development project. Contract terms have not been finalized, but it is anticipated that the estimated contract value and associated man-hours on the second topsides will be included in Gulf Island Fabrication, Inc.'s backlog for the quarter ended June 30, 2008.