Ellicott^® Dredges has issued its 2004 report which is very bullish

FOR IMMEDIATE RELEASE
MAY 2005

Ellicott^® Dredges has issued its 2004 report which is very bullish. The company has achieved a number of milestones. Among them, vendor "getintegrated", a human resource provider, picked Ellicott^® as its "Company of the Year" among its 300 clients.

Ellicott^® received an unprecedented number of multiple dredge contracts and also a large number of repeat orders.

Among the multiple unit sales were:

Among the repeat customers ordering 2nd dredges in 2004 were:

Currently approximately 26 dredges are under construction at the company's multiple U.S. facilities and overseas.

DIVERSE PROJECTS/MAJOR CUSTOMERS/WORLDWIDE

In addition to the company's worldwide government customers, Fortune 500 Company customers are using the company's dredges in diverse applications around the world.

Examples include:

The company sold 11 dredges for sand and gravel extraction, ranging from major companies like Holcim, Inc. and Feldspar Corp., the largest U.S. producer of the mineral feldspar, to "mom & pop" small producers. The latest delivery was a Series 670 for Stewart Sand of Florida.

COUNTRY MARKETS SERVED

Among the countries where the company received dredge orders were:

Ellicott^® and Mud Cat served over dozens of governmental customers in those countries, including dredges, parts, and after-sales service. 

NEW PRODUCT DEVELOPMENT

Ellicott^® has employed a new environmentally friendly hydraulic oil which not only meets U.S. Coast Guard requirements for biodegradability, but is fire-retardant. The State of Delaware will be using this system in all of its new Ellicott^® and Mud Cat™ dredges.

DISCOVERY CHANNEL TV SHOW
FEATURES ELLICOTT, TRASHCAT™

Discovery Channel's "Mega Machines" TV show featured Baltimore Dredges' products on its programs - twice! The first highlighted Kerr-McGee's Ellicott^® "Super-Dragon^®" "Cooljarloo 1" mining titanium dioxide feedstock. This 2000 ton/hour Ellicott^® dredge is the world's largest of its type. The 2nd program featured the success of a UMI TrashCat™ in cleaning up to 25 tons/day of floating debris from the Passaic River near New York City (copies available on request.)

NEW CAPITAL FOR GROWTH
&
EXPANDED BOARD OF DIRECTORS

Baltimore Dredge Enterprises, Ellicott^®'s parent, foresees a continued strong market in 2005. Its principal investors, led by TRF of Philadelphia, PA, have led a substantial capital addition to the company to enhance its ability to grow, and increase the investment in stock dredges and parts. Over the last year, investment in inventory has grown by $2MM, and Ellicott^® has hired additional personnel in Customer Service. At its recent May meeting, the Board of Directors elected Peter Askey, a principal of TRF, to the Board as Vice Chairman.

For more information, please contact:

Paul Quinn, Ph 410-545-0240, Email - [email protected]
Ellicott^® has released a new brochure available athttp://www.dredge.com/pdf/brochure_2005_highres.pdf

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