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:

• State of Delaware - a precedent-setting order for 4 Ellicott dredges, of 3 different sizes
• Holcim Inc. - 2 sand mining dredges for this multi-billion Euro European sand producer

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

• Series 1170 "Dragon" 14" dredge for a member of the Royal Family of UAE, after the 1st unit, now called "The Little Monster", exceeded expectations.
• Tennessee Valley Authority (TVA), a U.S. government agency
• A Maryland-based sand and gravel company

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:

• Exxon-Mobil's new Sakhalin Island, Russia, $12 billion oil field project - (Ellicott Series 1170 "Dragon") for port development
• InterContinental Hotels, the world's largest hotel operator, for new resort development (Ellicott Series 670)

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.

NEW INTERNATIONAL REPRESENTATIVE APPOINTED FOR AUSTRALIA, NEW ZEALAND & OCEANIA

Ellicott is pleased to announce that it has recently signed Holaust Marine Pty., Ltd. of Queensland, Australia, as its exclusive representative for this important region. Holaust has decades of experience in the dredging industry, having previously been associated with a competing manufacturer and has a well-deserved reputation for knowledgeable client service. Ellicott will continue expanding its worldwide markets thanks to the addition of Holaust and its principal, John Eddy, to the Ellicott team.

In addition, as previously announced, His Excellency Professor George A. Obiozor, Ambassador of Nigeria to the USA, christened a new Ellicott Series 370 at Ellicott's Baltimore plant, as his first official act outside of Washington, D.C. He noted:
"This commissioning is important to U.S.-Nigeria commercial relations; I would like to congratulate Ellicott for its expertise in the construction of this dredge."

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 - pquinn@dredge.com
Ellicott has released a new brochure available at http://www.dredge.com/pdf/brochure_2005_highres.pdf