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NEWS RELEASE

For further information contact:
Dailey J. Berard                                     Pete Roman
Chief Executive Officer                              Chief Financial Officer
(318)          367-8291                                      (318) 373-5506

FOR IMMEDIATE RELEASE
FRIDAY, JANUARY 23, 1998

                           UNIFAB INTERNATIONAL, INC.
                 REPORTS THIRD QUARTER AND YEAR-TO-DATE EARNINGS

New Iberia, LA - UNIFAB International, Inc. (NASDAQ: UFAB) today reported net
income of $1.2 million ($.25 per share) on revenue of $13.5 million for its
third quarter ended December 31, 1997, compared to net income of $0.8 million
($.24 per share) on revenues of $14.5 million for the third quarter ended
December 31, 1996. The Company completed its initial public offering on
September 24, 1997 in which 3.2 million shares were sold causing the weighted
average shares outstanding to increase from 3.5 million prior to completion of
the offering to 5.0 million for the quarter ended December 31, 1997.

Net income for the nine months ended December 31, 1997 was $3.7 million ($.91
per share) on revenue of $46.9 million, compared to net income of $3.0 million
($.87 per share) on revenues of $51.2 million for the nine months ended December
31, 1996. Backlog at December 31, 1997 was $31.5 million.

"Our revenue, profit and profit margins for the third quarter have met the goals
we anticipated," said Dailey J. Berard, UNIFAB International, Inc.'s President,
CEO, and Chairman of the Board. "We are proud of this because we think it shows
strong demand for the high quality fabrication services that UNIFAB offers. Net
income grew nearly 48% over the third quarter last year, in spite of the
terrible weather experienced in the area. Our backlog has exceeded our
expectations and we do not believe that the ratcheting down of oil and natural
gas prices has negatively affected our growth."

Mr. Berard also noted that the Company is on schedule with the $7 million of
capital improvement anticipated to be made with the proceeds of its initial
public offering. "We anticipate that these capital improvements will only
increase the productivity of our work force," said Mr. Berard. "We also
anticipate that the Company will expand into a deeper water facility on the ship
channel in Lake Charles, Louisiana. We are in the final stages of negotiating
the acquisition of those facilities and we believe it should be finalized in the
near future. We remain very optimistic about UNIFAB's continued growth well into
the next decade."



The Company has scheduled a conference call to discuss earnings, operations and
the business outlook for Wednesday, January 28, 1998 at 9:00 a.m. (CST). To
participate in the conference call, please call (973) 628-9554. A question and
answer session will follow the Company's presentation.

UNIFAB International, Inc. is an industry leader in the custom fabrication of
decks and modules of drilling and production equipment and other structures used
in the development and production of oil and gas reserves. In addition, the
Company refurbishes and retrofits existing jackets and decks and performs
offshore piping hook-up and platform maintenance services. Dailey Berard serves
on a number of committees and task forces that are working to improve training
and education of the workforce in Louisiana.