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| Tidewater, ENSCO Announce April 1, 2003 Closing of Gulf of Mexico Fleet Transaction |
| NEW ORLEANS--(BUSINESS WIRE)--March 31, 2003--Tidewater Inc. (NYSE:TDW) and ENSCO International Incorporated (NYSE:ESV) jointly announced today that Hart-Scott-Rodino clearance had been obtained and that all other conditions to closing have been satisfied with respect to the previously announced sale by ENSCO of its 27-vessel Gulf of Mexico fleet to Tidewater. The transaction is expected to be completed as of 12:01 a.m., Tuesday, April 1, 2003.
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