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    Friede Goldman Halter gets new President and CEO

    News // April 12, 2002
    Friede Goldman Halter (FGH) has announced the resignation of John Alford as President and Chief Executive Officer. Alford has served in that capacity since August 2000.

    The Board of Directors has elected Jack R Stone, Jr, currently serving as the Chief Restructuring Advisor to FGH, to the post of President and CEO to replace Alford.

    As previous announced, FGH has filed a Plan of Reorganization which, if approved, anticipates the unsecured creditors will receive a majority of the ownership of the reorganized Friede Goldman Offshore and reorganized Halter Marine. The plan presently provides no recovery for the current equity security holders of the company.

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