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    Oceaneering Announces Record Second Quarter Earnings

    August 03, 2004

    August 3, 2004– Houston, Texas – Oceaneering International, Inc. (NYSE:OII) today reported record second quarter earnings for the period ended June 30, 2004. Net income was more than double that of the first quarter and equal to the results reported in the second quarter of 2002. On revenue of $194.7 million, Oceaneering generated net income of $10.9 million, or $0.43 per common share. For the first quarter of 2004, Oceaneering reported revenue of $166.6 million and net income of $4.8 million, or $0.19 per common share.

    PR 884

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