Deep Down 3,200 Metric Ton Carousel System Will Be Located on Alabama Gulf Coast at Core Industries' Theodore Industrial Port

HOUSTON, Aug. 25 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, today announced it has teamed up with Core Industries ("CORE") to permanently locate a 3,200 MT Carousel System (the "Carousel") at CORE's deepwater port facility near Mobile, Alabama.  The Carousel is currently under construction and will be ready in the fourth quarter 2010.

CORE's deepwater port in Alabama is an ideal location for Deep Down to provide its customers with umbilical storage capability on its Carousel, which in turn provides substantial savings to the customer when mobilizing for an offshore job.  The customer will be able to spool the umbilicals onto the installation vessel and simultaneously load out the vessel with the remaining requirements. Deep Down will also be able to perform full scale Systems Integration Testing ("SIT") and have installation equipment on site that supports the Carousel available to rent to installation contractors for immediate mobilization.

Ronald E. Smith, Chief Executive Officer stated, "Teamed with Core Industries' marine handling capabilities at their deepwater facility and Deep Down's innovative deepwater services and equipment make up a combination of 'Can-Do' contractors which could very well become the premier staging area for the ultra-deepwater Gulf of Mexico and a launching pad to areas even further South.  I am proud to place our Carousel and supporting equipment at Core Industries and offer the kind of services to our customers they deserve.  The simple fact that we can perform SIT and other valuable testing of systems offline so that we can find the problems before they become the customers deepwater problems will be an incredible project safeguard that will bring added value to our customers." Morgan B. Myles, President, Core Industries, Inc., stated, "We are pleased to add Deep Down, Inc. to the list of innovative deepwater oil and gas installation contractors who call Core Industries facility, Theodore Industrial Port, their Base of Operations. We are excited to work with Deep Down and its talented team for the installation of their new storage carousel and look forward to providing our facility and services for Systems Integration Testing and other Deep Down projects. We have no doubt that much success will come for both companies from hosting this Carousel and that the result will be the highest quality project."

About Deep Down, Inc.

Deep Down, Inc. is an oilfield services company serving the worldwide offshore exploration and production industry. Deep Down's proven services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, distributed and drill riser buoyancy, ROVs and tooling, marine vessel automation, control, and ballast systems. Deep Down supports subsea engineering, installation, commissioning, and maintenance projects through specialized, highly experienced service teams and engineered technological solutions. The company's primary focus is on more complex deepwater and ultra-deepwater oil production distribution system support services and technologies, used between the platform and the wellhead. More information about Deep Down is available at www.deepdowncorp.com.

About Core Industries, Inc.

For more than 25 years, Core Industries has delivered quality services to the Oil, Gas and Pipeline Industries. CORE's Port facility, Theodore Industrial Port, has served as Base of Operations for many of the deepwater oil and gas installation contractors working in the Gulf of Mexico. The port's facilities are used by these contractors to store and mobilize or demobilize specific project equipment to and from their Gulf of Mexico projects, as well as abroad. CORE and its facility has hosted many of the GOM Double Joint and Quad Joint fabrication projects over the last 10 years as well as provided the Single Joint receiving and finished product load outs for those projects. Our superior service, proximity to the Gulf of Mexico, and true understanding of the industry allow us to provide a professional, competitive and strategic logistical advantage to our clients. CORE's proven track record of versatility and competency in handling complex operations has earned us a strong reputation in the Oil and Gas Industry. For more information on Core Industries or Theodore Industrial Port, please visit our websites www.coreindustries.us and www.theodoreport.com, contact us at 251-660-6800, or e-mail us at [email protected].

One of our most important responsibilities is to communicate with shareholders in an open and direct manner.  Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends."  We cannot promise future returns.  Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events.  Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.

SOURCE Deep Down, Inc.