Press Release Details

Great Lakes Dredge & Dock Corporation Announces Secondary Equity Offering

OAK BROOK, Ill.--(BUSINESS WIRE)--Aug. 10, 2009-- Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) ("Great Lakes" or the "Company") today announced a 12.5 million share secondary offering of its common stock by certain selling stockholders. The selling stockholders include Madison Dearborn Capital Partners IV, L.P. The offering is being conducted as a public offering pursuant to an effective shelf registration statement under the Securities Act of 1933. Great Lakes will not receive any proceeds from the sale of the shares but will pay the expenses of the offering.

The offering is being made through an underwriting syndicate led by Barclays Capital and BofA Merrill Lynch, as joint book-running managers for the offering. The co-managers of the offering are BB&T Capital Markets and Morgan Joseph & Co. Inc.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be a sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is being made by means of a prospectus supplement and the accompanying prospectus only. Copies of the prospectus supplement and accompanying prospectus can be obtained from Barclays Capital Inc., c/o Broadridge, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone (888) 603-5847 or by email at barclaysprospectus@broadridge.com; or from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department.

About Great Lakes Dredge & Dock Corporation

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States and the only U.S. dredging company with significant international operations, averaging 30% of the Company’s total dredging revenue over the last three years. Great Lakes is a leader in each of the U.S. markets in which it competes: capital, maintenance and beach nourishment dredging. The Company is also one of the largest U.S. providers of commercial and industrial demolition services. Additionally, the Company owns a 50% interest in a marine sand mining operation in New Jersey which supplies sand and aggregate used for road and building construction. Great Lakes has a 119-year history of never failing to complete a marine project and owns the largest and most diverse fleet in the industry, comprised of over 180 specialized vessels.

SOURCE: Great Lakes Dredge & Dock Corporation

Source: Great Lakes Dredge & Dock Corporation

Great Lakes Dredge & Dock Corporation
Deborah A. Wensel, 630-574-3772
Chief Financial Officer