McDermott Announces Dates for Second Quarter 2010 Financial Results and Conference Call

McDermott International, Inc. (NYSE: MDR) (“McDermott” or the “Company”) announced today that it plans to release financial results for the second quarter of 2010 during the evening of Monday, August 9, 2010. The Company will host its quarterly conference call with the financial community the following morning, Tuesday, August 10 at 10:00 a.m. (ET). The Company invites investors and other interested individuals to listen to the call live or to the replay, both available on McDermott’s website, www.mcdermott.com, in the investor relations section.

As previously announced, the Company’s Board of Directors has approved the spin-off of The Babcock & Wilcox Company (“B&W”), which is expected to be completed on July 30, 2010. Although McDermott’s earnings release date will occur after the spin-off is expected to be complete, the Company will still report fully consolidated financial results including B&W for the second quarter of 2010, consistent with its past format. In addition to the consolidated results, McDermott will include in its earnings release pro-forma financial statements reflecting discontinued operations to exclude B&W’s results and transaction-related expenses. If the spin-off is completed as expected on July 30, 2010, B&W will also report its stand-alone financial results and host a separate quarterly conference call.

McDermott is an engineering and construction company, with specialty manufacturing and service capabilities, focused on energy infrastructure. McDermott’s customers are predominantly utilities and other power generators, major and national oil companies, and the United States Government. With its global operations, McDermott operates in over 20 countries with more than 25,000 employees.