JUNE 21, 2005
PRESS RELEASE
SOURCE: Oil States International, Inc.

OIL STATES COMPLETES SALE OF CONVERTIBLE SENIOR NOTES

Houston, Texas, June 21, 2005 -- Oil States International, Inc. (NYSE: OIS)
today announced that it has completed the previously announced sale of $125
million aggregate principal amount of its 2 3/8% contingent convertible senior
notes due 2025 through a private placement to qualified institutional buyers
pursuant to Rule 144A.

The notes are senior, unsecured obligations of the Company and bear interest at
a rate of 2 3/8% per annum. The notes mature on July 1, 2025 and may not be
redeemed by the company prior to July 6, 2012. Holders of the notes may require
the company to repurchase some or all of the notes on July 1, 2012, 2015 and
2020. The notes provide for a net share settlement, and therefore may be
convertible, under certain circumstances, into a combination of cash, up to the
principal amount of the notes, and common stock of the company, if there is any
excess above the principal amount of the notes, at an initial conversion price
of $31.75.

The company used approximately $30.0 million of the net proceeds of the offering
to repurchase shares of its common stock, $25.0 million to repay its unsecured
bridge loan and $66.0 million to repay borrowings under its senior secured
credit facility.

The convertible notes were sold only to qualified institutional buyers in
accordance with Rule 144A under the Securities Act of 1933, as amended. The
convertible notes and the underlying common stock issuable upon conversion have
not been registered under the Securities Act of 1933, as amended, or applicable
state securities laws, and may not be offered or sold in the United States
absent registration under the Securities Act and applicable state securities
laws or available exemptions from such registration requirements. This press
release does not constitute an offer to sell or the solicitation of an offer to
buy the securities.

The foregoing contains forward-looking statements within the meaning of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements are those that do not state historical facts and are,
therefore, inherently subject to risks and uncertainties. The forward-looking
statements included herein are based on current expectations and entail various
risks and uncertainties that could cause actual results to differ materially
from those forward-looking statements. Such risks and uncertainties include,
among other things, risks associated with the general nature of the oilfield
service industry and other factors discussed within the "Business" section of
the Form 10-K for the year ended December 31, 2004 filed by Oil States with the
SEC on March 2, 2005.

Company Contact:
Cindy B. Taylor
Oil States International, Inc.
713-652-0582

SOURCE: Oil States International, Inc.