Larry D. Hornbeck, former Chairman of the Board, President, Chief Executive Officer and founder of the original Hornbeck Offshore Services, Inc., has joined the Board of Directors of the Company effective August 22, 2001.

From its inception in 1981 until its merger with Tidewater, Inc. (NYSE: TDW) in March 1996, the original Hornbeck Offshore Services, Inc. was a publicly-held offshore supply vessel company. Following the merger, Mr. Hornbeck was also a director of Tidewater, Inc. from March 1996 until October 2000. During his tenure at the helm of Hornbeck Offshore Services, Inc., Mr. Hornbeck grew that company through a series of vessel building programs and acquisitions from four to over 100 offshore service vessels.

In addition, Mark J. Warner, who until his departure from Enron Capital & Trade Resources was the board designee of our warrantholders, has resigned from the Board. Also, R. Clyde Parker, Jr., a founding director and the Company's corporate and securities counsel, has changed his status to that of a non-voting Advisory Director to the Board.

Mr. Christian Vaccari, the Company's Chairman and Chief Executive Officer said, "We are excited to add to our board a person of such expertise and experience, and who is held in such high regard in the industry as is Larry Hornbeck. His 30 years of experience in senior management and board positions in the offshore marine services industry and his contributions to the future of our company will be invaluable."

Mr. Todd Hornbeck, the Company's President and Chief Operating Officer stated, "We appreciate the services of both Mr. Warner and Mr. Parker. Each has contributed greatly to the Company's progress." He also stated, "We look forward to continuing to benefit from the advice and counsel from Mr. Parker in his new capacity."