JDR CABLE SYSTEMS NAMES SOLBERG CHAIRMAN

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Houston, USA – 1 January 2004 – JDR Cables Systems LTD.

JDR Cable Systems (Holdings) Ltd., has named Robert A. “Bob” Solberg to the position of non-executive Chairman of the Board. The announcement was made by Pat Herbert, JDR Group Chief Executive Officer.

“Mr. Solberg’s vast international experience in exploration, commercial development and production makes him a tremendous asset to our aggressive program of growth in the multi-national oil and gas industry. We are extremely fortunate to have a man of Mr. Solberg’s stature on our board.”

Mr. Solberg is a former Vice President of Texaco Inc., where he directed numerous capital programs targeting company value creation and growth. “I’m excited about working with an innovative company like JDR, to more effectively use commercial technology to construct new oil and gas fields around the world… especially in deeper, subsea applications.”

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