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                                                                    Exhibit 99.1
NEWS RELEASE
February 14, 2000


                           UNIFAB INTERNATIONAL, INC.
                          REPORTS THIRD QUARTER RESULTS

New Iberia, LA - (Business Wire) - February 10, 2000 -- UNIFAB International,
Inc. (NASDAQ: UFAB) today reported net loss of $398,000 ($0.06 per share) on
revenue of $18.1 million for its third quarter ended December 31, 1999, compared
to net income of $1.68 million ($0.28 per share) on revenue of $23.5 million for
the third quarter ended December 31, 1998. For the nine months ended December
31, 1999, net loss totaled $208,000 ($0.03 per share) on revenue of $55.8
million, compared to net income of $7.1 million ($1.18 per share) on revenue of
$86.5 million for the nine months ended December 31, 1998. Backlog at December
31, 1999 was approximately $18.4 million.

"Our operating results for the quarter were pressured by reduced margins brought
on by the increased competition for those limited projects being awarded," said
Dailey J. Berard, President, CEO and Chairman of the Board.

"The leading indicators are now strong. Oil prices have more than doubled from a
year ago. The number of active rigs in the US has risen 65% from its lowest
point last Spring. The independents, generally the quickest to react, are
becoming more active. New budgets are being announced 10-15% above last year.
Bidding activity continues to improve. Unifab's focus has been growth and
expansion throughout the down market, and we have maintained our commitment to
that strategy. This focus on growth positions the Company to participate in
larger projects. The Company now has the capability to fabricate any of the
needs of the oil and gas exploration and production industry. The Company's Lake
Charles deep water fabrication yard, which will be fully operational in April,
will enable the Company to bid on FPSO's and other deep water international
projects. We have broadened our focus and we are aggressively marketing our
Total Project Capabilities," Berard said.

UNIFAB International, Inc. is an industry leader in the custom fabrication of
topsides 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, provides repair, refurbishment and conversion
services for oil and gas drilling rigs and performs offshore piping hook-up and
platform maintenance services. Dailey Berard serves as a commissioner on a
number of committees and task forces that are working to improve training and
education of the workforce in Louisiana.

Statements made in this news release regarding UNIFAB's expectations as to
future operations of UNIFAB and other statements included herein that are not
statements of historical fact are forward-looking statements that depend upon
the following factors, among others: continued demand for the services provided
by UNIFAB, availability of skilled employees, and UNIFAB's ability to integrate
and manage acquired businesses. Should any of these factors not continue as
anticipated, actual results and plans could differ materially from those
expressed in the forward-looking statements.