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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: A. Geiche who wrote (50313)	9/2/1999 2:50:00 PM
From: stevedhu	Respond to of 95453

A. Geiche, that was yesterday's news and it went up before retreating again after the news, then after filling the gap this morning it went up and was holding, till this slide. I thought there might be some other reason. Take Care Steve

To: A. Geiche who wrote (50313)	9/2/1999 3:33:00 PM
From: Ditchdigger	Read Replies (1) \| Respond to of 95453

Global Industries Names Edgar G. Hotard President and Chief Operating Officer LAFAYETTE, La., Sep 2, 1999 (BUSINESS WIRE) -- Global Industries, Ltd. (Nasdaq:GLBL) announced today that Edgar G. Hotard has been elected President and Chief Operating Officer of the Company. Mr. Hotard will continue to be a member of the Board of Directors of Global and will join the Company in his new position effective September 20, 1999. Mr. Hotard previously served as President and Chief Operating Officer of Praxair, Inc. until his retirement last year. Praxair is a NYSE listed company engaged in the manufacturing, marketing and distribution of industrial gases and the design, engineering and construction of air separation and supply systems for internal use and third party sales. Praxair had 1998 revenues of $4.8 billion employing 25,000 people in forty countries. Mr. Hotard held various domestic and international management positions in Union Carbide's Industrial Gases businesses and co-led the successful spin-off of Praxair from Union Carbide. He led the integration of the CBI/Liquid Carbonic acquisition into Praxair and served as Chairman of Chicago Bridge and Iron, restructuring and preparing it for an initial public offering in early 1997. Mr. Hotard also serves on the Board of Directors of Dexter Corp., Windsor Locks, CT.; Aquarion Corp., Bridgeport, CT.; and Iwatani Industrial Gases Inc., Tokyo, Japan. He is a member of the Executive Committee of the Board of Directors of the US China Business Council. In making the announcement, William J. Dore', Chairman and Chief Executive Officer of the Company, said "We are very excited about Ed joining the Global team. Ed has proven experience in developing and leading global businesses, integrating large acquisitions, and optimizing productivity and growth. He will be of tremendous value as we move forward to achieve our goal of being the leading and most profitable offshore engineering and construction service company operating in partnership with our customers worldwide." The Company also announced Robert L. (Bob) Patrick, currently West Africa area manager, will assume responsibilities for Global's existing international operations effective immediately, replacing Clay Etheridge who has chosen to leave the Company due to personal reasons. Global Industries provides construction services, including pipeline construction, platform installation and removal, diving services, and abandonment and removal services to the oil and gas industry worldwide. This press release contains forward-looking information based on current information and expectations of the Company that involve a number of risks, uncertainties and assumptions which are described in the Company's Annual Report on Form 10-K. Among the factors that could cause actual results to differ materially are: industry conditions, prices of crude oil and natural gas, the Company's ability to obtain and the timing of new projects, and changes in competitive factors. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual outcomes could vary materially from those indicated. For additional news releases on Global Industries, Ltd., please visit Global's web site at www.globalind.com. Copyright (C) 1999 Business Wire. All rights reserved. -0- CONTACT: Global Industries Ltd., Lafayette William Dore' Jr., 713/479-7655 globalind.com WEB PAGE: businesswire.com GEOGRAPHY: LOUISIANA TEXAS NEW YORK CONNECTICUT INDUSTRY CODE: OIL/GAS ENERGY MANAGEMENT CHANGES Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. ================================================================ Subjects: business public+companies wall+street acquisition africa annual+report biz business china construction crude+oil engineering executive industrial japan manufacturing marketing nasdaq natural+gas newsgrid nyse oil partnership pipeline prices productivity public+offering restructuring retirement sales tokyo usa web Symbols: GLBL PX PX UK DEX