Earl Awarded Four Major Contracts
January 2006

During the last week of December 2005, the U. S. Navy awarded Earl Industries four major ship repair contracts with a potential total estimated value in the hundreds of millions of dollars. These contract awards are recognition by the Navy of the companys consistently outstanding technical performance, cost control, and management expertise.

The first contract, awarded by the Navys Mid-Atlantic Regional Maintenance Center, is for the eleven-month dry-docking overhaul of the aircraft carrier USS HARRY S TRUMAN. The work will be conducted at the Norfolk Naval Shipyard and includes numerous structural, piping, mechanical, and preservation requirements, including the preservation of the ships underwater hull and freeboard to be accomplished by Earls United Coatings Division.

Within a few days, the companys wholly-owned subsidiary, IMIA, LLC, was competitively awarded a multi-year contract for the painting and preservation of SSBN and SSGN Class submarines by the Navys Southeast Regional Maintenance Center. The work will be performed at the Naval Submarine Base in Kings Bay, Georgia and is expected to run through 2010.

Before the end of the week, the company was awarded two Multi-Ship/Multi-Option (MS/MO) contracts by the Navy to perform all scheduled, continuous, and emergent maintenance on all Norfolk, Virginia-based Aircraft Carriers and LPD/LSD Class amphibious ships. Both of these contracts have a period of performance of five years. Under these contracts, Earl Industries will be in charge of ensuring these capital ships of the U. S. Navy are ready for sea and to perform any mission assigned to them.

These four significant contracts will create new and exciting opportunities within the company and will be the basis for the companys continuing growth.

The men and women of Earl Industries are proud of the trust that the U.S. Navy has in them by the award of these important contracts for the maintenance of a sizeable part of the Navys Fleet.