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AVONDALE INDUSTRIES SHIPYARDS DIVISION GETS ASSISTANCE STATE OF LOUISIANA APPROVES COOPERATIVE ENDEAVOR

 NEW ORLEANS, Oct. 21 /PRNewswire/ -- Avondale Industries, Inc. (NASDAQ-NMS: AVDL) is pleased to note today's action by the State Bond Commission approving the participation of the state of Louisiana in a cooperative endeavor to assist the Shipyards Division of the company, which is competing for a contract with Texaco, Inc., for the construction of up to four 40,000 DWT product carriers.
 This project will create or preserve over 1,500 Avondale jobs. Avondale is grateful for this assistance and the support provided by Gov. Edwards, President of the Senate Sammy Nunez, Speaker of the House John Alario, Secretary of the Department of Economic Development Kevin Reilly, and other members of the administration, the legislature and the Bond Commission. This agreement is a major component of Avondale's bid for the Texaco Project and demonstrates both the state and Avondale's commitment to economic growth in Louisiana. Avondale believes that the cooperation between the state and private business evidenced in this matter is a positive development that will contribute to the economic growth and prosperity of the state and its citizens for many years.
 Avondale Industries, Inc., headquartered in metro New Orleans, is one of the nation's leading marine fabricators. In addition to its shipbuilding operations, the company specializes in boat construction and is a major repair contractor for commercial and Navy ships. It is also involved in the modular construction of plants and components for a variety of land-based industries.
 -0- 10/21/93
 /CONTACT: Thomas M. Kitchen of Avondale Industries, 504-436-5237/
 (AVDL)


CO: Avondale Industries, Inc. ST: Louisiana IN: MAR SU:

BR-BN -- AT016 -- 2144 10/21/93 17:47 EDT
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Publication:PR Newswire
Date:Oct 21, 1993
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