Flotation Technologies

HOUSTON, TEXAS — March 29th, 2004 — Flotation Technologies, Inc., a global leader in deepwater buoyancy systems, today announced the purchase of installation buoyancy by Allseas for use on the Cameron Highway project in the Gulf of Mexico. This purchase of nearly 2-tons of buoyancy will ease installation of the largest oil pipeline in the United States.

When completed, Cameron Highway — a 390-mile oil pipeline — will have the capacity to deliver up to 500,000 barrels of oil per day from the southern Green Canyon and western Gulf of Mexico areas to the major refining areas of Port Arthur and Texas City, Texas.

"With all signs pointing to a large rebound this year in the Gulf of Mexico we are pleased to be involved with a project as high profile as Cameron Highway," said Tim Cook, President of Flotation Technologies. "Our commitment to the Offshore Oil market has never been as strong, and we intend to leverage our 25 years of experience in deepwater buoyancy systems to serve this expanding market."

About Flotation Technologies
Flotation Technologies, Inc. is a world leader in the design, manufacture, and marketing of deepwater buoyancy systems using high-strength Flotec™ syntactic foam and polyurethane elastomer products. Providing quick-turnaround, custom engineering and fabrication to the Offshore Oil, Oceanographic, Seismic and Government markets. Flotation Technologies delivers consistently reliable buoyancy for a host of marine applications. Flotation Technologies manufactures such innovative products as flexible riser buoyancy, modular buoys of any size, ADCP buoys, ROV/AUV buoyancy modules, pipeline/sled buoyancy, QuickLoc™ cable floats, Hardball™ umbilical floats, and elastomeric bend stiffeners and restrictors. For more information on Flotation Technologies visit www.flotec.com.

Media Contact:
Fred Maguire, Sales & Marketing Manager
Flotation Technologies, Inc.
207.282.7749/fmaguire@flotec.com

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