EXHIBIT 99.1

NEWS RELEASE

For further information contact:

Kerry J. Chauvin                                        Joseph "Duke" Gallagher
Chairman and Chief Executive Officer                    Chief Financial Officer
(985) 872-2100                                                   (985) 872-2100
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FOR IMMEDIATE RELEASE
WEDNESDAY, APRIL 3, 2002


                          GULF ISLAND FABRICATION, INC.
                          TO ANNOUNCE EARNINGS RESULTS
                          AND QUARTERLY CONFERENCE CALL

Houma, LA--(BUSINESS WIRE)--April 3, 2002--Gulf Island Fabrication, Inc.
(NASDAQ: GIFI), will announce 2002 first quarter earnings on Wednesday, April
24, 2002 during morning market hours.

The management of Gulf Island Fabrication, Inc. will hold a conference call on
Thursday, April 25, 2002, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time) to
discuss the Company's financial results for the quarter ended March 31, 2002.

The call is accessible by webcast through CCBN and by dialing the following:

Dial In:          1-800-997-8642

Webcast:          www.gulfisland.com

Replay of the call is available two hours after the call and ending May 2, 2002
by dialing:

Phone Number:     1-800-428-6051

Replay Passcode:  237958


Gulf Island Fabrication, Inc., based in Houma, Louisiana, is a leading
fabricator of offshore drilling and production platforms, offshore living
quarters and other specialized structures used in the development and production
of offshore oil and gas reserves. The Company also offers offshore interconnect
pipe hook-up, inshore marine construction, manufacture and repair of pressure
vessels, and steel warehousing and sales.