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NEWS RELEASE
July 15, 2001



ORDERS FOR FLOATING PRODUCTION UNITS HAVE RISEN TO PRE-SLUMP LEVELS

According to a new report by IMA, orders for floating production units have risen to levels not seen since early 1997.  As of mid-2001, 37 floating production units were on order, up significantly from the low point of 17 orders in December 1999.  The continuing growth in orders in hand is convincing evidence that the floating production sector is alive and well.  

For further information, please contact Jim McCaul at 202-333-8501 or e-mail imaassoc@msn.com. Details for our reports series on floating production can be obtained by clicking here