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Bear Wagner Specialists LLC Selected by Cal Dive International to Trade Shares on NYSE.

NEW YORK -- Bear Wagner Specialists LLC today announced that it was selected by Cal Dive International (NYSE: DVR) to trade its shares on the New York Stock Exchange. A Houston-based marine contractor providing manned diving, pipelay and pipe burial services to the offshore oil and natural gas industry, Cal Dive began trading December 14, ringing the bell to open the Exchange on December 19.

"Cal Dive is a prestigious addition to the growing list of quality companies traded by our team of highly experienced specialists," said Peter Murphy, chief executive officer of Bear Wagner Specialists. "At Bear Wagner, we strive to be the specialist of choice by providing our clients with unparalleled service and trading expertise."

"We chose Bear Wagner Specialists as our partners on the floor of the NYSE because we are convinced they will deliver superior markets for our stock," said Quinn Hebert, chief executive officer of Cal Dive. "Bear Wagner's substantial IPO experience helped make our NYSE listing a smooth and successful process."

About Cal Dive International

Cal Dive has provided manned diving services on the Gulf of Mexico Outer Continental Shelf (OCS) since 1975. With recent acquisitions of certain assets from Acergy and Torch, Inc., Cal Dive has evolved into the largest marine diving contracting company in the world.

Cal Dive owns and operates the largest DSV fleet, the largest diving corps and the largest array of diving equipment in the world; as well as recently acquired conventional pipelay barges. The fleet consists of twenty-three DSV's; four DP Sat, four 4-Point Anchor Sat, six 4-Point Anchor and nine Utility DSV's. Three construction barges and eight Portable Sat Systems provide added capability and flexibility.

Cal Dive also offers general diving services working off customer vessels or platforms. As the market leader for marine construction and diving services, Cal Dive currently employs approximately 1,200 full-time supervisors, divers, tenders, OCS vessel crews, and operations support personnel. The Company's focus is life-of-field support, which involves inspection, maintenance and repair of the rapidly aging OCS infrastructure. Most recently, extensive hurricane inspection and repair projects have been commissioned as a result of catastrophic damage caused by four major hurricanes occurring in the Gulf of Mexico in a span of four years.

About Bear Wagner Specialists LLC

Bear Wagner Specialists, a leading NYSE specialist firm, is a strategic partner and trusted advisor to many of the world's most esteemed companies. Representing more than 350 publicly traded equities with an aggregate market cap greater than $2.8 trillion, Bear Wagner is widely recognized as the most progressive and technologically advanced firm on the Exchange. Bear Wagner Specialists has vast experience assisting companies as they navigate the NYSE listing process and establish their "best practices" investor relations programs. Bear Wagner Specialists LLC is a majority-owned joint venture of The Bear Stearns Companies, Inc. (NYSE:BSC). For additional information, visit the firm's website at Bear Wagner Specialists LLC is a member of SIPC.
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Publication:Business Wire
Date:Jan 11, 2007
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