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DELTA QUEEN ENTERS AGREEMENT TO BUILD NEW VESSEL

 NEW ORLEANS, Dec. 18 /PRNewswire/ -- The Delta Queen Steamboat Company (NASDAQ: DQSB) announced today that it had entered into an agreement with McDermott Shipyard of Morgan City, La. (a division of McDermott, Inc. of New Orleans) to build an overnight passenger paddlewheel vessel. Construction is expected to begin in February 1993, and be completed in late 1994.
 S. Cody Engle, chairman of Delta Queen, said, "This agreement represents the important first step in the development of our new vessel. Over the next several weeks, we will be working with McDermott to determine the final specifications for the vessel so we can begin construction as scheduled.
 "This project was actively bid by a number of shipyards. We selected McDermott because of our confidence in their shipbuilding team, their commitment to quality and their commitment to deliver the vessel to us at an early date."
 McDermott will immediately begin working with Delta Queen to review the plans for the vessel and to set the final scope of construction. Construction of the vessel is expected to involve about 500 workers at McDermott's shipyard near Morgan City.
 The proposed vessel tentatively named the "Belle of America," will be the largest overnight paddlewheel boat ever constructed. The boat will travel throughout the inland rivers of America as part of the Delta Queen Steamboat Co.'s fleet which now includes The Delta Queen and The Mississippi Queen. The Delta Queen Steamboat Co. operates the only overnight passenger paddlewheel vessels in North America. The company is headquartered in New Orleans.
 -0- 12/18/92
 /CONTACT: Kirk Brewer, 312-258-4358 or Patti Young, 504-585-0626, both of The Delta Queen Steamboat Co.; or Don Washington of McDermott, 504-587-4080/
 (DQSB)


CO: The Delta Queen Steamboat Company; McDermott, Inc. ST: Louisiana IN: LEI SU:

WB -- NY058 -- 8258 12/18/92 13:33 EST
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Publication:PR Newswire
Date:Dec 18, 1992
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