Flotation Technologies

Flotation Technologies' New Patent Pending Distributed Buoyancy Provides Easier Installation and Improved Performance

BIDDEFORD, MAINE — May 12th, 2004 — Flotation Technologies, Inc., a global leader in deepwater buoyancy systems, today unveiled its new, patent pending, Distributed Buoyancy Module. This product has been specifically designed to both decrease installation time and complexity, as well as improve overall performance over the previous marketplace offerings.

Distributed Buoyancy is used on flexible flowlines, umbilicals and steel catenary risers to hold subsea lines in a configured shape. These configurations allow the floating production facility free range of motion at the surface without putting undue stress on the subsurface lines.

"Since the mergers in the buoyancy market, two years ago, the marketplace has been lacking in competitive offerings of several products, Distributed Buoyancy has been the most obvious," commented Fred Maguire, Sales and Marketing Manager of Flotation Technologies. "This new product goes well beyond providing a second choice in the market; it provides a better choice."

Flotation Technologies' Distributed Buoyancy Module was designed with many enhancements over previous market offerings. The design criteria included easier installation, improved performance over a twenty-year life span, and an increase in on-vessel safety during installation. This new product offers several features which improve on current designs such as; a hinge and latch buoyancy element that offers easier handling and installation; a unique "W" shaped spring member on the internal clamp that allows for a larger variation in riser O.D. and improves long term performance; and a truly hinged internal clamp that eases installation and eliminates the need for pretentioning tools.

"This product release marks a significant step in Flotation Technologies' progressive and persistent product development plan and establishes us as a true engineered solutions provider," stated Tim Cook, President of Flotation Technologies. "As we carry on this path, we will continue to aggressively pursue new product development, improve our global manufacturing capability and continue to cultivate high-profile strategic relationships."

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 and engineered products for a host of marine applications. Innovative syntactic foam products include flexible riser buoyancy, deepwater modular buoy, ADCP buoys, ROV/AUV buoyancy modules, pipeline/sled buoyancy, QuickLoc™ cable floats, Hardball™ umbilical floats, and elastomeric bend stiffeners, restrictors and cable protection. 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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