Great Lakes Dredge & Dock Corporation Announces $100 Million Secondary Offering

  
    
  
  
    
      Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD and GLDDW) (“Great 
      Lakes” or the “Company”) 
      today announced a $100 million secondary offering of shares of its 
      common stock by certain selling stockholders, pursuant to a registration 
      statement filed with the Securities and Exchange Commission. The selling 
      stockholders include Madison Dearborn Capital Partners IV, L.P. Great 
      Lakes will not receive any proceeds from the sale of the shares but will 
      pay the expenses of the offering.
    
    
      A registration statement relating to the securities described above has 
      been filed with the Securities and Exchange Commission but has not yet 
      become effective. These securities may not be sold nor may offers to buy 
      be accepted prior to the time the registration statement becomes 
      effective. 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 through an underwriting syndicate led by Banc 
      of America Securities LLC and Lehman Brothers Inc. as joint book-running 
      managers for the offering. A copy of the prospectus relating to the 
      shares, when available, may be obtained from Banc of America Securities 
      LLC, Attention: Prospectus Department, Markets Operations, 100 West 33rd 
      Street, New York, NY 10001, or by email to [e-mail] 
      or from Lehman Brothers Inc., c/o Broadridge, Integrated Distribution 
      Services, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at [e-mail] 
      or by fax at [phone].
    
    
      About Great Lakes Dredge & Dock Corporation
    
    
      Great Lakes is the largest provider of dredging services in the United 
      States and the only U.S. dredging company with significant international 
      operations, averaging 18% of its dredging revenues over the last three 
      years. Great Lakes also owns an 85% interest in North American Site 
      Developers, Inc., 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.
    
    
      (GLDD-G)