Exhibit 99.2

        Gulf Island Fabrication, Inc. Announces New President
                     for Gulf Marine Fabricators


    HOUMA, La.--(BUSINESS WIRE)--Nov. 6, 2006--Gulf Island
Fabrication, Inc. (NASDAQ: GIFI) today announced that Clint Anderson
has joined Gulf Island Fabrication, Inc. as the President of G. M.
Fabricators, L. P. d/b/a Gulf Marine Fabricators, the Company's South
Texas facility. Mr. Anderson has over 25 years of worldwide marine
fabrication and related experience.

    "We are delighted that a person with the marine fabrication
experience of Clint Anderson will be joining our Company," said Kerry
Chauvin, CEO and Chairman of the Board of Gulf Island Fabrication. "We
believe that Clint Anderson's leadership and knowledge will be a great
addition to the team at Gulf Marine Fabricators, which the Company
acquired earlier this year."

    Gulf Island Fabrication, Inc., based in Houma, Louisiana, is a
leading fabricator of offshore drilling and production platforms, hull
and/or deck sections of floating production platforms and other
specialized structures used in the development and production of
offshore oil and gas reserves. These structures include jackets and
deck sections of fixed production platforms, hull and/or deck sections
of floating production platforms (such as tension leg platforms
("TLPs")), "SPARs, FPSOs", piles, wellhead protectors, subsea
templates and various production, compressor and utility modules,
offshore living quarters, tanks and barges. The Company also provides
offshore interconnect pipe hook-up, inshore marine construction,
manufacture and repair of pressure vessels, heavy lifts such as ship
integration and TLP module integration, loading and offloading of
jack-up drilling rigs, semi-submersible drilling rigs, TLP's, SPARs,
or other similar cargo, onshore and offshore scaffolding, piping
insulation services, and steel warehousing and sales.


    CONTACT: Gulf Island Fabrication, Inc., Houma
             Kerry J. Chauvin, 985-872-2100
             Chief Executive Officer
             or
             Joseph "Duke" Gallagher, 985-872-2100
             Chief Financial Officer