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Todd Pacific Shipyards Corporation Announces U.S. Coast Guard Exercise of Option on
Overhaul and Drydocking of USCGC Polar Star (WAGB-10)
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Via Facsimile
Total Pages - 1
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Contact: Summer O'Connor
Shareholder Relations
206-623-1635 Ext. 106
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SEATTLE, WASHINGTON...April 25, 2005... Todd Shipyards Corporation (NYSE:TOD) announced
today that the U.S. Coast Guard has awarded to its wholly owned subsidiary, Todd Pacific
Shipyards Corporation ("Todd Pacific" or the "Company"), a $8,777,829 modification to previously
awarded contract HSCG85-04-C-625509 in support of repairs and alterations performed during the
Dry-Docked Planned Maintenance Availability ("DPMA") of the icebreaker USCG Polar Star
(WAGB-10). The contract modification provides for the alteration and repair of ship's
systems, shipboard equipment and ship hull preservation. The work will be accomplished at
the Company's shipyard in Seattle and is expected to be completed in August 2005.
The DPMA of the Polar Star is being performed pursuant to the Company's five-year
Multi-Ship Multi-Option ("MSMO") contract with the Coast Guard for the overhaul and
continued maintenance of the two Polar Class Icebreakers stationed at Seattle, Washington. The
cost-type contract was awarded to Todd Pacific in 2004.
Todd Pacific performs a substantial amount of repair and maintenance work on commercial and federal
government vessels engaged in various seagoing trade activities in the Pacific Northwest. Its customers
include the U.S. Navy, the U.S. Coast Guard, the Washington State Ferry system and various other
commercial and governmental customers. Todd has operated a shipyard in Seattle since 1916.
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