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MCDERMOTT TO APPEAL ADVERSE ORDERS FROM U.S. DISTRICT COURT

 NEW ORLEANS, Sept. 20 /PRNewswire/ -- McDermott International, Inc. (NYSE: MDR) announced today that it will appeal adverse orders it has received from the United States District Court for the Northern District of Ohio in a case brought by The Babcock & Wilcox Company against certain of McDermott's liability insurers.
 Babcock & Wilcox, a major operating unit of McDermott, brought the case to enforce coverage for certain asbestos-related claims under a policy for the year 1979. The court found that the policy language did not afford such coverage, granted the insurers summary judgment, and denied Babcock & Wilcox's motion for a rehearing.
 As a result of these orders, McDermott has decided to expense previously recorded receivables from the insurers of approximately $10 million, and will consider the future financial effects of the rulings.
 McDermott International, Inc. is a leading worldwide energy services company. The company and its subsidiaries manufacture steam-generating equipment, environmental equipment, and defense and aerospace products. They also provide engineering and construction services for industrial and utility facilities onshore, and to the oil and gas industry offshore.
 -0- 9/20/93
 /CONTACT: Don Washington of McDermott International, 504-587-4080/
 (MDR)


CO: McDermott International, Inc. ST: Louisiana IN: OIL SU:

BN -- AT004 -- 3534 09/20/93 10:01 EDT
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Publication:PR Newswire
Date:Sep 20, 1993
Words:205
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