TODD SHIPYARDS CORPORATION ANNOUNCES U.S. NAVY EXERCISE OF OPTION ON OVERHAUL AND DRYDOCKING OF USS JOHN C. STENNIS (CVN74)

Option Agreement

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Todd Pacific Shipyards Corporation

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Title: TODD SHIPYARDS CORPORATION ANNOUNCES U.S. NAVY EXERCISE OF OPTION ON OVERHAUL AND DRYDOCKING OF USS JOHN C. STENNIS (CVN74)
Date: 12/18/2007
Industry: Water Transportation Sector: Transportation

TODD SHIPYARDS CORPORATION ANNOUNCES U.S. NAVY EXERCISE OF OPTION ON OVERHAUL AND DRYDOCKING OF USS JOHN C. STENNIS (CVN74)

VIA FACSIMILE	CONTACT: HILARY PICKEREL
Total Pages - 1	SHAREHOLDER RELATIONS
	206-623-1635 Ext. 106

SEATTLE, WASHINGTON...September 12, 2007...Todd Shipyards Corporation (NYSE:TOD) announced that the U.S. Navy ("Navy") has awarded to its wholly owned subsidiary, Todd Pacific Shipyards Corporation ("Todd Pacific" or the "Company"), a $16,076,635 modification to previously awarded contract N00024-04-C-4152. This contract modification is in addition to the $5,020,754.00 contract modification announced on August 28, 2007 and represents an increase to the previously exercised option for the Docking Planned Incremental Availability ("DPIA") for USS JOHN C. STENNIS (CVN74) ("Stennis") at Puget Sound Naval Shipyard, which will commence on September 28, 2007 and

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