Two Members Retire from Board of Parker Drilling

Parker Drilling Company announced the retirement of James W. Linn and David L. Fist, 17-year members of the board of directors, effective immediately.

Linn, with a distinguished career at Parker spanning nearly 30 years, joined the Company in 1973 and served in various leadership positions in Parker's international and U.S. operations markets. He was appointed as executive vice president and chief operating officer of Parker Drilling in 1991, and retired from the position in 2001. A director since 1986, Mr. Linn is also a director of Sarkeys Energy Center at the University of Oklahoma, a member of the Oklahoma and Tulsa County Bar Associations, and a member of the Advisory Board to the Mewbourne School of Petroleum and Geological Engineering at the University of Oklahoma. Fist was also appointed to the Board in 1986. He is currently a member of the law firm of Rosenstein, Fist & Ringold in Tulsa, and has been affiliated with the firm since 1955.

Robert L. Parker Jr., president and chief executive officer said, "We want to thank Jim and David for their dedicated service and contributions to the Company over the years. Their strong leadership and guidance were invaluable to Company's operations. Their insight will be missed, and we wish them well in their future endeavors."

Parker Drilling does not intend to fill the vacancy created by Linn's and Fist's retirement and will operate with an 8-member board of directors.