Caspian Services Inc.


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Caspian Services, Inc. Appoints New Fleet Manager

12.10.2006

ALMATY, Kazakhstan, Oct. 12 /PRNewswire-FirstCall/ -- Caspian Services Inc. (OTC Bulletin Board: CSSV) is pleased to announce the appointment of Mr. Joseph Borg to the position of Fleet Manager. Mr. Borg is a Maltese national with extensive experience in fleet management and marine operations gained over a 30-year international career in the Far East, Middle East, Caspian Sea and Europe. During his extensive career, Mr. Borg has worked for Western Geophysical, Schlumberger and BGP.

'With the appointment of Mr. Borg we have attracted an individual of the highest caliber, who will focus on expanding our efforts in deep marine seismic data acquisition,' commented John Scott, Chief Operating Officer of Caspian Services. Caspian Services currently provides offshore support for Veritas Caspian's large data library survey being carried out on behalf of the Government of the Republic of Kazakhstan. 'We are continually seeking to increase the portfolio of seismic data acquisition services we offer and are confident Mr. Borg can be instrumental in helping expand the services we provide to Veritas Caspian and our other clients,' said Mr. Scott.

Caspian Services, Inc. is an oilfield service company providing a broad range of services in the Caspian Sea region of western Kazakhstan. The Company provides geophysical and seismic data acquisition and interpretation services, maintains a fleet of vessels that it commissions to oil and gas exploration companies engaged in exploration and development activities in the north Caspian Sea and offers other oilfield services such as lodging and desalinated water in the Port of Bautino. The Company maintains corporate offices in Almaty and Aktau, Kazakhstan and Salt Lake City, Utah.

For Additional Information Please Contact:

Terrance J. Powell
Vice President, Investor Relations
29/6 Satpaev Street
9th Floor, Hyatt Regency Hotel
Almaty, 050040
Republic of Kazakhstan
Tel -- 7 3272 508 478 / Fax -- 7 3272 508 479
Email -- tpowell@caspianservices.kz

The information contained in this release includes forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. Certain statements contained herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied. Forward-looking statements involve risks and uncertainties, including but not limited to, such risks as the implementation of business plans, contract performance, sufficiency of funds and other risks described in the Company's periodic reports on file with the Securities and Exchange Commission.

SOURCE Caspian Services, Inc.

Source: PR Newswire (October 12, 2006 - 9:52 AM EST)

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