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OCEANEERING ACQUIRES ILC SPACE SYSTEMS

 HOUSTON, May 24 /PRNewswire/ -- Oceaneering International, Inc., (NYSE: OII) announces that it has acquired the assets of the ILC Space Systems Division of ILC Dover, Inc.
 ILC Space Systems Division was established in 1978 and has actively supported NASA and major aerospace contractors through the design, development, and fabrication of space extravehicular (EVA) and intravehicular hardware and softgoods, mechanical and electromechanical devices, and high-temperature insulation for space launch vehicles and aircraft engines. The division's annual revenues in 1992 were approximately $11 million; major customers include Lockheed Engineering and Sciences Corporation (LESC), Lockheed Missiles and Space Company, Boeing, United Technologies USBI, Hercules, and General Dynamics, and the U.S. National Aeronautics and Space Administration.
 Oceaneering's acquisition includes ILC's engineering, manufacturing, and testing facilities in a 63,500-square-foot building located next to NASA's Johnson Spaceflight Center in Clear Lake City, Texas. ILC will be integrated into Oceaneering Space Systems, the Oceaneering division which provides specialized EVA and telerobotic tooling, portable life- support systems, and engineering support to NASA and major aerospace customers.
 "The acquisition is very synergistic in that we are merging two worlds of operational experience - ILC has built the majority of astronaut EVA tools used by U.S. astronauts, and Oceaneering has a long history of designing and operating telerobotic tooling for both subsea and, more recently, space applications. Together we offer customers operational experience based on practical knowledge in both areas," stated Art Stephenson, Vice President of Oceaneering Space Systems.
 With the ILC acquisition we assume a multimillion-dollar subcontract with Boeing to design and manufacture the galley, wardroom, and major housekeeping subsystems for NASA's Space Station Freedom living module. The combined company will work as a subcontractor to LESC in providing specialized tooling and equipment for the Hubble space telescope repair mission scheduled for late 1993. It will also continue with a variety of other EVA tooling contracts to support shuttle and space station EVA operations for NASA's Johnson Spaceflight Center, again under subcontract to LESC and Lockheed Missiles and Space Company. In addition, Oceaneering will assume management of ILC's contract to operate and provide support services for the Marshall Spaceflight Center Neutral Buoyancy Simulator Facility in Huntsville, Ala., which is used to evaluate space equipment and train shuttle astronauts for EVA operations. The combined company will continue to serve customers requiring softgoods and flexible thermal protection blankets used in commercial and military aircraft, as well as in launch vehicles such as the Shuttle, Titan IV, and Atlas 2AS.
 Prior to this acquisition, Oceaneering Space Systems provided its space business and other customers with robotics integration and laboratory testing capabilities; spaceflight hardware design, including EVA and robot-compatible tools and interfaces; portable life-support technology; task analysis and requirements definition; and engineering support services. Oceaneering Space Systems is a prime contractor to NASA's Johnson Spaceflight Center in Houston and is a subcontractor to McDonnell Douglas Aerospace, Lockheed, Johnson Engineering Corporation, Booz Allen, Grumman, and the Department of Energy.
 Oceaneering, together with its affiliate companies, is one of the world's largest underwater services companies. Oceaneering supplies a comprehensive range of integrated technical services to a wide array of industries. Principal services are directed to the offshore oil and gas industry and include drilling support; subsea construction; production systems; facilities maintenance and repair; survey and positioning; engineering; and specialized inspection, both offshore and onshore.
 -0- 5/24/93
 /CONTACT: Beth O'Sullivan, corporate communications and investor relations manager of Oceaneering International, Inc., 713-578-8868/
 (OII)


CO: Oceaneering International, Inc.; ILC Dover, Inc. ST: Texas IN: ARO SU: TNM

SM -- NY050 -- 1652 05/24/93 11:19 EDT
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Date:May 24, 1993
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