Latest News From DeepDown

Friday, October 12th, 2007

• LIEUTENANT COMMANDER GREGORY BOUCHER JOINS ELECTROWAVE

HOUSTON, TX -- October 11, 2007 -- Deep Down, Inc. (OTCBB: DPDW) today announced that Lieutenant Commander Gregory Boucher, recently retired from the United States Navy, will join ElectroWave USA, Inc. (subsidiary) as marine systems manager on October 16, 2007. His primary focus will be on servicing the growing number of commercial and government clientele including energy related companies, major shipyards, the U.S. Navy, and the U.S. Coast Guard.

Lieutenant Commander Boucher has served in numerous positions of responsibility including deck department, combat systems, and operations over his 23-years of Naval Service. In his most recent command, Lieutenant Commander Boucher served as Executive Officer of the Navy Operational Support Center in San Antonio, Texas. He is distinguished in his highly decorated Naval career having been promoted from the enlisted ranks to Surface Warfare Officer. He has served in numerous key positions ranging from officer-of-the-deck, tactical action officer, and engineering officer of the watch, to force protection.

With over nine-years of consecutive sea duty on four capital warships and assault craft Unit Five (hovercraft), Lieutenant Commander Boucher brings a wealth of military and marine experience, expertise, and contacts to Deep Down and its subsidiaries.

• DEEP DOWN ANNOUNCES UPWARD REVISION BY DAHLMAN ROSE
HOUSTON, TX -- October 12, 2007 -- Deep Down, Inc. (OTCBB: DPDW) today announced that Dahlmann Rose & Company, LLC (MEMBER: NASD/SIPC) has reaffirmed its BUY rating and revised its target price to $2.50 per share.

Dahlman Rose is a full-service investment bank offering value-added research, trading, and advisory services for growing companies operating along the energy and commodity supply chain. It is a leading boutique investment bank specializing in the marine shipping and energy industries with offices in New York, Houston, San Francisco, and New Orleans. Further information on Dahlman Rose may be obtained at www.dahlmanrose.com.

• DEEP DOWN ANNOUNCES RESEARCH REPORT BY TUOHY BROTHERS
HOUSTON, TX -- October 12, 2007 -- Deep Down, Inc. (OTCBB: DPDW) today announced that Tuohy Brothers Investment Research, Inc. (MEMBER: NASD/SIPC) has issued an unsolicited research report on the Company.

Tuohy Brothers Investment Research, Inc. is a New York based independent energy research boutique providing fundamental equity research designed to compliment, not duplicate, traditional “Street” research. Tuohy Brothers provides insightful analysis of energy industry trends, commodity markets and individual companies to institutional investors. Tuohy Brothers’ Director of Research Steven Parla, CFA, can be reached at 212-605-0450.

• About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company’s ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.

The Company’s strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down’s customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit www.deepdowninc.com and www.electrowaveusa.com

One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.

For Further Information

Steven Haag, Investor Relations

ir@deepdowninc.com

281-862-2201 (O)
281-862-2522 (F)
www.deepdowninc.com

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