Chief Financial Officer to Step Down from Global Industries

Global Industries announced that Jeffrey B. Levos will step down from his position as Senior Vice President and Chief Financial Officer in mid November after concluding third quarter financial reporting activities, including filing the Company's 10Q.

Mr. Levos will then remain employed with the Company for a period to ensure an orderly transition of his responsibilities. Mr. Levos joined the Company in May 2008 after fourteen years with Cooper Industries and the Coastal Corporation. Upon leaving Global, Mr. Levos plans to retire and to pursue personal interests.

"During his time with Global, Jeff made significant contributions to our efforts to improve the quality of our financial reporting and cash flow management," said Chairman and Chief Executive Officer John Clerico. "We appreciate his efforts and while we regret to see him leave, we certainly appreciate Jeff's desire to spend more time with his family."