Tidewater Announces Authorization to Repurchase Shares of its Common Stock

NEW ORLEANS--(Business Wire)--
Tidewater Inc. (NYSE:TDW) announced today that its Board of Directors has
authorized the Company to spend up to $200 million to repurchase shares of its
common stock in open-market or privately-negotiated transactions. The Company
would use its available cash and, when considered advantageous, borrowings under
its revolving credit facility or other borrowings, to fund any share
repurchases. The repurchase program will end on the earlier of the date that all
authorized funds have been expended or June 30, 2010, unless extended by the
Board of Directors.

While no shares were repurchased under the Company`s most recent share
repurchase authorization which ended on June 30, 2009, the Company`s last four
repurchase programs beginning in August 2005 and ending on June 30, 2009, have
cumulatively resulted in the repurchase of a total of 9,458,700 common shares at
a total cost of $516.2 million. The Company will continue to evaluate share
repurchase opportunities relative to other investment opportunities and in the
context of current conditions in the credit and capital markets.

Tidewater Inc. owns 404 vessels, the world`s largest fleet of vessels serving
the global offshore energy industry.

Tidewater Inc., New Orleans
Joe Bennett
Executive Vice President and Chief Investor Relations Officer
504-566-4506

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