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DPDW--.77--DEEP DOWN INC

Deep Down, Inc. Ships Three BS Latchers
1/30/2008

HOUSTON, Jan 30, 2008 /PRNewswire-FirstCall via COMTEX News Network/ --
Deep Down, Inc. (OTC Bulletin Board: DPDW) announced today that three Bend Stiffener ("BS") Latchers, for the BC-10 project, were shipped to Singapore. These BS Latchers will be installed on the Client's Floating Production, Storage and Offloading vessel ("FPSO") which will be bound for Brazil upon its completion. An FPSO is a type of floating tank system used by the offshore oil and gas industry. It is designed to receive oil or gas produced from a nearby platform(s) and store it until the oil or gas can be offloaded onto waiting tankers, or sent through a pipeline.

The BS Latcher is a proprietary Deep Down design which offers its clients significant cost savings as compared to many of its competitors' products. These cost savings arise principally out of the unique quick-release and locking mechanism which can be engaged by a single ROV without any need for divers for any phase of its deployment. As bend stiffeners get larger and heavier, it is also important to note that the bend stiffener can be carried behind the bullnose of the Deep Down BS Latcher and engaged into the mating bellmouth quickly and efficiently. Upon completion, the bend stiffener can be released to allow the bullnose and umbilical to be pulled up through the remaining length of the I-tube and hung off at the topside hang-off flange.

"The Deep Down design has handled high load transfers for very high bending moments of up to 350,000 foot pounds. As umbilicals, and attached bend stiffeners, are subjected to higher cyclic loading in ultra deepwater developments, these bending moments will increase. Our BS Latchers can be engineered and designed to handle these ever-increasing loads and bending moments. It is gratifying that our client has chosen to use our services in an international installation in Singapore on their very first owned FPSO, which is to be operated in their very first development in Brazil," says Ronald E. Smith, President & CEO of Deep Down. "We continue to strive to engineer innovative solutions to save our clients time and money in the continuing search for oil and gas reserves," he concluded.

About Deep Down, Inc.

Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.

The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.

The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys.

The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com

Company information distributed through the Market Access Program is based upon information that Standard & Poor's considers to be reliable, but neither Standard & Poor's nor its affiliates warrant its completeness or accuracy, and it should not be relied upon as such. This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument.

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.

http://www.deepdowninc.com

Copyright (C) 2008 PR Newswire.