EXHIBIT 99.1

                                                                   PRESS RELEASE


                      SEACOR ANNOUNCES AGREEMENT TO ACQUIRE
                               ERA AVIATION, INC.


HOUSTON, TEXAS
October 14, 2004

FOR IMMEDIATE RELEASE -- SEACOR Holdings Inc. (NYSE: "CKH") today announced an
agreement to acquire 100% of the common stock of ERA Aviation, Inc., a
wholly-owned subsidiary of Rowan Companies, Inc. (NYSE: "RDC"), for an expected
cash purchase price of approximately $118.1 million (subject to post-closing
working capital adjustments).

SEACOR intends to combine Tex-Air Helicopters, Inc. (a wholly-owned subsidiary
of SEACOR) with ERA and the combined operation will continue under the name of
"ERA Aviation." After giving effect to the combination with Tex-Air, the
combined fleet will consist of 128 helicopters, 16 fixed wing aircraft and 14
operating bases.

Charles Fabrikant, SEACOR's Chairman and Chief Executive Officer, commented,
"The acquisition of ERA will substantially increase SEACOR's exposure to the
Gulf of Mexico helicopter market. ERA operates mostly twin-engine equipment,
serving the drilling - "crew change" market and has large equipment that can
support deep-water operations. We expect the combination of Tex-Air and ERA will
result in synergies. The acquisition of ERA is consistent with SEACOR's recently
developed plan to invest cash, previously dedicated to foreign operations, in US
assets."

"ERA has built an excellent long-term operating and safety record - providing
safe, efficient, and reliable service through the medium of high-quality
equipment, and well-trained and talented personnel, factors critical to building
long-term relationships with major integrated oil companies. ERA's management
and personnel are to be commended for building an excellent organization and
performance record, and we look forward to their continuing contribution as part
of the new combined operation."

Danny McNease, Rowan's Chairman and Chief Executive Officer, commented, "As
previously reported, we have been actively reviewing strategic options for our
aviation operations for the past several months, including a sale of the
business. We have determined that the sale of Era will better allow Era to focus
on growing its customer and asset bases while continuing to provide the quality
service for which it has become known. It will also allow Rowan to exit a
non-core business and concentrate management's efforts on improving results from
its contract drilling and manufacturing businesses. With SEACOR's reputation for
quality operations and excellent management, we are confident that Era's
customers will continue to receive an excellent level of service."


The transaction is subject to requisite governmental regulatory approvals and
other customary closing conditions. It is anticipated that the transaction will
close within 30 to 60 days.

ABOUT SEACOR

SEACOR and its subsidiaries are engaged in the operation of a diversified fleet
of offshore support vessels that service oil and gas exploration and development
activities in the U.S. Gulf of Mexico, the North Sea, West Africa, Asia, Latin
America and other international regions. Other business activities primarily
include environmental services, inland river operations, and offshore aviation
services. For additional information, contact Randall Blank, Executive Vice
President and Chief Financial Officer, at (281) 899-4800 or (212) 307-6633 or
visit SEACOR's website at www.seacorholdings.com.

ABOUT ROWAN

Rowan Companies, Inc. is a major provider of international and domestic contract
drilling services. The Company also operates a mini-steel mill, a manufacturing
facility that produces heavy equipment for the mining, timber and transportation
industries, and a drilling products division that has designed or built about
one-third of all mobile offshore jack-up drilling rigs, including all 24
operated by the Company. The Company's stock is traded on the New York Stock
Exchange and the Pacific Exchange - Stock & Options. Common Stock trading
symbol: RDC. For additional information, contact William C. Provine,
Vice-President - Investor Relations, at 713-960-7575 or visit Rowan's website at
www.rowancomranies.com.

FORWARD LOOKING STATEMENTS

This release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements include, but
are not limited to, statements about the benefits of the contemplated
transaction between SEACOR and Rowan, the parties' plans, objectives,
expectations and intentions and other statements that are not historical facts.
Such statements are based upon the current beliefs and expectations of SEACOR's
and Rowan's respective managements and are subject to significant risks and
uncertainties. The following factors, among others, could affect the transaction
and the anticipated results: the expiration or termination of any applicable
waiting period under the Hart-Scott-Rodino Act, the receipt of other requisite
consents and approvals, the parties' ability to achieve expected synergies in
the transaction and other factors disclosed in the documents filed by Seacor or
Rowan with the Securities and Exchange Commission.


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