Gulf Island Fabrication, Inc. Announces Appointment of Kirk J. Meche as New Chief Executive Officer

  Gulf Island Fabrication, Inc. Announces Appointment of Kirk J. Meche as New
  Chief Executive Officer

Business Wire

HOUMA, La. -- December 14, 2012

Gulf Island Fabrication, Inc. (NASDAQ: GIFI), today announced the appointment
of Kirk J. Meche as the Company’s new Chief Executive Officer and President
effective January 1, 2013. Mr. Meche will replace Kerry J. Chauvin, who will
step down as Chief Executive Officer and Chairman of the Board on January 1,
2013. John P. (Jack) Laborde, a member of the Company’s Board of Directors
since 1997, will assume the role of Chairman of the Board. The Company expects
to enter into an agreement with Mr. Chauvin pursuant to which Mr. Chauvin will
serve as a consultant to the Board of Directors and management following his
resignation.

Kerry J. Chauvin stated, “Due to my health, it is in my best interest, as well
as the best interest of the Company, that I step down as Chief Executive
Officer and Chairman of the Board at this time. I have worked closely with
Kirk for a number of years and believe his management and operational
experience with the Company make him the ideal successor to lead the Company
going forward. I fully support the Board’s decision to appoint Kirk to the
position of Chief Executive Officer and look forward to continuing to work
with him in my capacity as a consultant for Gulf Island.”

“On behalf of the Board of Directors, I want to thank Kerry for his over 25
years of service to Gulf Island," Jack Laborde stated. "The Company
experienced a number of milestones under Kerry's leadership, including the
consummation of its initial public offering in 1997, its entry into the major
deepwater fabrication business with the acquisition of Gulf Marine Fabricators
in 2006 and its expansion of marine fabrication services in 2008, among
others."

The management of Gulf Island Fabrication, Inc. will hold a conference call on
Friday, December 14, 2012 at 2:30 p.m. Central Time (3:30 p.m. Eastern Time)
to discuss Mr. Meche’s appointment as Chief Executive Officer. The call is
accessible by webcast (www.gulfisland.com) through CCBN and by dialing
1.888.259.8885. A digital rebroadcast of the call is available three hours
after the call and ending December 21, 2012 by dialing 1.888.203.1112, replay
passcode: 1694319.

Gulf Island Fabrication, Inc., based in Houma, Louisiana, is a leading
fabricator of offshore drilling and production platforms, hull and/or deck
sections of floating production platforms and other specialized structures
used in the development and production of offshore oil and gas reserves. These
structures include: jackets and deck sections of fixed production platforms;
hull and/or deck sections of floating production platforms (such as tension
leg platforms (“TLPs”), “SPARs”, “FPSOs” and “MinDOCs”), piles, wellhead
protectors, subsea templates and various production, compressor and utility
modules, offshore living quarters, towboats, liftboats, tanks and barges. The
Company also provides offshore interconnect pipe hook-up, inshore marine
construction, manufacture and repair of pressure vessels, heavy lifts such as
ship integration and TLP module integration, loading and offloading of jack-up
drilling rigs, semi-submersible drilling rigs, TLPs, SPARs, or other similar
cargo, onshore and offshore scaffolding, piping insulation services, and steel
warehousing and sales.

Contact:

Gulf Island Fabrication, Inc.
Kerry J. Chauvin, 985-872-2100
Chief Executive Officer
or
Roy F. Breerwood, III, 985-872-2100
Chief Financial Officer
 
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