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Deep Down Inc.(OTCBB: DPDW, http://www.marketwatch.com/quotes/dpdw )

Deep Down, Inc. Ships Three BS Latchers

Last update: 1:41 p.m. EST Jan. 30, 2008

HOUSTON, Jan 30, 2008 -- Deep Down, Inc. 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