Lockport, LA ., December 8, 2006 - Bollinger Shipyards, Inc. announced at the International Workboat Show in New Orleans that an agreement was reached to form an international consortium to respond to a Department of Defense (DoD) acquisition program for the Joint High Speed Vessel (JHSV).

The JHSV program brings together Navy, Army, Marines, and SOCOM to pursue a multi-use platform. The JHSV is a new generation, multi-use platform capable of transporting troops and their equipment, supporting humanitarian relief efforts, the ability to operate in shallow waters and can reach speed in excess of 35 knots fully loaded.

The consortium is led by Louisiana-based Bollinger Shipyards, Inc., and consists of Australian-based shipyard INCAT, Australian-based design group Revolution Design, two Washington State shipyards Nichols Brothers and Kvichak, and Massachusetts-based shipyard Gladding-Hearn (Duclos Corp).

Chris Bollinger, Executive Vice President for Bollinger Shipyards, Inc., said, "Bollinger Shipyards is pleased to bring together the expertise of premier aluminum shipbuilders from the West Coast, East Coast and Gulf Coast along with the world leader in HSV design and construction, Incat Tasmania and Revolution Design."

Bollinger Shipyards, Inc. is a leading provider of offshore oil field support vessels, OPA’90 tank barges, tugs, drilling rigs, liftboats, fast patrol boats and other steel and aluminum products from its three new construction shipyards. Bollinger has 13 shipyards and all are strategically located between New Orleans and Houston with direct access to the Gulf of Mexico, Mississippi River and Intracoastal Waterway. Bollinger is the largest vessel repair company in the Gulf of Mexico region with a total of 40 dry-docks in Louisiana and Texas.

Nichols Brothers Boat Builders, Inc., (www.nicholsboats.com) Located in Freeland, WA, Nichols family has been building vessels for over four generations. Nichols Brothers has built vessel for every purpose, High-speed military vessels, High-speed passenger fast ferries, whale watch catamarans, pilot boats, fishing vessels, tugs, fireboats and other distinctive types of vessels. Nichols Brothers was one of the first to build INCAT designed high-speed catamarans in the U.S.

Gladding-Hearn Shipbuilding, the Duclos Corporation, (www.gladding-hearn.com) Located in Somerset, Massachusetts, has designed and built more than 330 high quality commercial vessels since 1955, such as pilot boats, fire boats, tug boats, various types of fast ferries, whale watch catamarans and other distinctive types of vessels. In 1987, Gladding-Hearn delivered its first INCAT designed high-speed catamaran. Since then, the company has built more than 40 passenger vessels, including 32 fast catamarans, of which 8 were delivered in the last 36 months.

Kvichak Marine Industries, Inc., (www.kvichak.com) Located in Seattle, WA, was founded in 1981 and since 1988 has produced over 300 commercial, all-aluminum vessels. Their experience is demonstrated by the construction and delivery of a wide range of vessel designs -- these craft range from 14' to 95' LOA, and are in service with a variety of private, commercial, state, federal, and military customers. Each project awarded to Kvichak was successfully completed and each vessel continues to provide significant customer service and satisfaction.

Incat Australia Pty. Ltd., (www.incat.com.au) is the world’s leading producer of high-speed passenger and vehicular ferries. Since 1990 Incat has built 33 vehicle ferries of over 70 meters (230ft) representing almost 40% of the world’s high speed, large capacity ferry market. Incat is the builder of the distinctive ‘Wave Piercing Catamaran’ design, which has proven its superior performance characteristics operating in countries around the globe. Also family owned and operated, Incat’s experience has been derived from over 28 years in the ferry and tour boat industries.