AGR Subsea and Mako Technologies Sign Representation Agreement

Bergen, 8th February 2010: AGR Group (OSE: AGR) announced today that its trenching and excavation subsidiary, AGR Subsea Ltd ("AGR Subsea"), has today signed a representation agreement with Mako Technologies LLC ("Mako"), a wholly-owned subsidiary of Deep Down Inc (OTCBB: DPDW). Under the agreement Mako will promote AGR Subsea's well-proven SeaVator^® and ClayCutter X^® seabed excavation service lines in the US Gulf Coast region, and provide operational support once projects are under way.

John Sands, AGR Subsea Ltd Managing Director, said: "We are looking forward to improving our profile in the US Gulf coast. This agreement means that we can serve our clients in the region better and we can convert the significant interest in our seabed excavation services into projects. Mako’s long experience in the region, good reputation and excellent network means that we can reach all the relevant clients in the trenching, decommissioning and salvage areas and get our message across clearly".

Jacob Marcell, President of Mako, added: "We are delighted to be working with AGR Subsea Ltd, and look forward to bringing this exciting technology to the US Gulf of Mexico. This agreement complements Mako's products and services, and will create new opportunities for Mako".