LAWRENCE G. MOCNIAK

NAMED CHIEF FINANCIAL OFFICER

Thursday, October 5, 2006 -- Washington, DC -- Phoenix International, Inc., (Phoenix) is pleased to announce the appointment of Lawrence G. Mocniak as its Chief Financial Officer. Mr. Mocniak will oversee all aspects of Phoenix’s financial management and control, government procurement, financial reporting, and capital investment initiatives.

Mr. Mocniak has an impressive track record of developing and implementing mission critical financial processes and reporting systems that lead to greater profitability and operational efficiency. He has a unique blend of technological savvy and operational management rooted in real-time financial reporting. In addition to his outstanding financial management qualifications, Mr. Mocniak brings to Phoenix a broad range of corporate expertise gained during more than 20 years administering government contracts and 17 years in senior management roles for both public and private companies.

Prior to joining Phoenix, Mr. Mocniak was the CFO of a government security solution provider where he established financial systems and built operational infrastructure capable of effectively managing its significant corporate growth. He served as director of business management for a publicly traded telecommunications software and services company, and spent 16 years at an international marine services company in managerial positions of increasing responsibility to include liaison controller.

Mr. Mocniak is a member of the Institute of Management Accountants and the Association of Financial Professionals. He holds a bachelor’s degree from Robert Morris University.

Phoenix is a marine services company providing quality manned and unmanned underwater operations and engineering services to an international customer base. Worldwide services include Underwater Ship Inspection & Repair, US Navy & ABS Certified Underwater Welding, ROV Operations, Deep Ocean Search & Recovery, Subsea Construction Support, Submarine Rescue, and Underwater Equipment Design. Phoenix resources include divers and diving systems, one-Atmosphere Diving Systems (ADS), Remotely Operated Vehicles and associated tooling systems, and turnkey engineering design and development capabilities.

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For More Information Contact:

Phoenix International, Inc.

9301 Largo Drive West, Largo, MD, 20774 USA

Tel: +1 (301) 341-7800

Fax: + 1 (301) 499-0027
tjanaitis@phnx-international.com