EXHIBIT 99.1

FOR IMMEDIATE RELEASE
Wednesday, March 3, 2004

                           UNIFAB INTERNATIONAL, INC.
                                 CURRENT EVENTS

New Iberia, LA - (Market Wire) - March 3, 2004 -- UNIFAB International, Inc.
(NASDAQSC: UFAB) During the past four trading days, the common stock of UNIFAB
International, Inc. (the "Company") has been trading in volumes that are
substantially above typical trading volume in the Company's shares, and at
prices substantially above historical prices. Due to this unusual trading
activity, various news outlets have contacted the Company's management seeking
information about the Company.

The Company is not aware of any material undisclosed information about its
historical performance or its future prospects that would cause the unusual
trading activity that is now occurring. Further, the Company is not aware of the
existence of any rumors about the Company that would cause the unusual trading
activity that is now occurring.

The Company has followed a policy of not responding to questions about rumors
that may circulate about the Company, from time to time, and intends to continue
to follow this policy in the future. The publication of this press release is
not made for the purpose of responding to rumors.

UNIFAB International, Inc. is a custom fabricator of topside facilities,
equipment modules and other structures used in the development and production of
oil and gas reserves. In addition, the Company designs and manufactures
specialized process systems, refurbishes and retrofits existing jackets and
decks, and provides design, repair, refurbishment and conversion services for
oil and gas drilling rigs.

                                      E-10