Gulf Island Fabrication, Inc. Declares Dividend on Common Stock

HOUMA, La.--(Business Wire)--
Gulf Island Fabrication, Inc. (NASDAQ: GIFI), announced today that its board of
directors declared a dividend of $0.01 per share on Gulf Island Fabrication,
Inc.`s approximately 14.3 million shares of common stock outstanding.

The dividend was declared during a regular meeting of the board held on April
22, 2010 and is payable May 24, 2010, to shareholders of record on May 7, 2010.

Gulf Island Fabrication, Inc., based in Houma, Louisiana, is a leading
fabricator of offshore drilling and production platforms, hull and/or deck
sections of floating production platforms and other specialized structures used
in the development and production of offshore oil and gas reserves. These
structures include jackets and deck sections of fixed production platforms; hull
and/or deck sections of floating production platforms (such as tension leg
platforms ("TLPs")), "SPARs and FPSOs", piles, wellhead protectors, subsea
templates and various production, compressor and utility modules, offshore
living quarters, tanksand barges.The Company also provides offshore interconnect
pipe hook-up, inshore marine construction, manufacture and repair of pressure
vessels, heavy lifts such as ship integration and TLP module integration,
loading and offloading jack-up drilling rigs, semi-submersible drilling rigs,
TLPs, SPARs or other similar cargo onshore and offshore scaffolding and piping
insulation services and steel warehousing and sales.

Gulf Island Fabrication, Inc.
Kerry J. Chauvin, 985-872-2100
Chief Executive Officer
or
Robin A. Seibert, 985-872-2100
Chief Financial Officer

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