Great Lakes Dredge & Dock Corporation Declares Cash Dividend

OAK BROOK, Ill.--(Business Wire)--
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) - the largest
provider of dredging services in the United States and a major
provider of commercial and industrial demolition services announced
today that its Board of Directors ("the Board") has declared a cash
dividend on its common stock. The Board approved a $0.017 per share
cash dividend, to be paid on June 25, 2008 to the holders of record of
common stock of the Company at the close of business on June 16, 2008.

Great Lakes Dredge & Dock Corporation is the largest provider of
dredging services in the United States and the only U.S. dredging
company with significant international operations, averaging 23% of
its dredging revenues over the last three years. The Company is also
one of the largest U.S. providers of commercial and industrial
demolition services. Furthermore, the Company owns a 50% interest in a
marine sand mining operation in New Jersey which supplies sand and
aggregate used for road and building construction. Great Lakes has a
118-year history of never failing to complete a marine project and
owns the largest and most diverse fleet in the industry, comprised of
over 180 specialized vessels.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute
"forward-looking" statements as defined in Section 27A of the
Securities Act of 1933 (the "Securities Act"), Section 21E of the
Securities Exchange Act of 1934 (the "Exchange Act"), the Private
Securities Litigation Reform Act of 1995 (the "PSLRA") or in releases
made by the Securities and Exchange Commission ("SEC"), all as may be
amended from time to time. Such forward-looking statements involve
known and unknown risks, uncertainties and other important factors
that could cause the actual results, performance or achievements of
Great Lakes and its subsidiaries, or industry results, to differ
materially from any future results, performance or achievements
expressed or implied by such forward-looking statements. Statements
that are not historical fact are forward-looking statements.
Forward-looking statements can be identified by, among other things,
the use of forward-looking language, such as the words "plan,"
"believe," "expect," "anticipate," "intend," "estimate," "project,"
"may," "will," "would," "could," "should," "seeks," or "scheduled to,"
or other similar words, or the negative of these terms or other
variations of these terms or comparable language, or by discussion of
strategy or intentions. These cautionary statements are being made
pursuant to the Securities Act, the Exchange Act and the PSLRA with
the intention of obtaining the benefits of the "safe harbor"
provisions of such laws. Great Lakes cautions investors that any
forward-looking statements made by Great Lakes are not guarantees or
indicative of future performance. Important assumptions and other
important factors that could cause actual results to differ materially
from those forward-looking statements with respect to Great Lakes,
include, but are not limited to, risks associated with Great Lakes'
substantial leverage, fixed price contracts, dependence on government
contracts and funding, bonding requirements and obligations,
international operations, government regulation, restrictive debt
covenants and fluctuations in quarterly operations, and those factors,
risks and uncertainties that are described in Item 1A of its Annual
Report on Form 10-K for the year ended December 31, 2007, and in other
securities filings by Great Lakes with the SEC.

Although Great Lakes believes that its plans, intentions and
expectations reflected in or suggested by such forward-looking
statements are reasonable, actual results could differ materially from
a projection or assumption in any forward-looking statements. Great
Lakes' future financial condition and results of operations, as well
as any forward-looking statements, are subject to change and inherent
risks and uncertainties. The forward-looking statements contained in
this press release are made only as of the date hereof and Great Lakes
does not have or undertake any obligation to update or revise any
forward-looking statements whether as a result of new information,
subsequent events or otherwise, unless otherwise required by law.

(GLDD-G)

Great Lakes Dredge & Dock Corporation
Deborah A. Wensel, Chief Financial Officer
630-574-3772

Copyright Business Wire 2008