Salt Lake City, Utah (PR Newswire) – Caspian Services, Inc. (“Caspian”) (OTC Bulletin Board: “CSSV.OB”) announces that it has broken ground for the construction of its Atash marine base facility at the Port of Bautino on Kazakhstan’s Caspian Sea coast.

Preliminary earth works have begun at the site with the expectation being that phase one of the facility, consisting of a level site area, wharf front, breakwater, dredged harbor and vessel maintenance area will be completed and operational by November 2008. Phase two of the marine base project, consisting of warehouse and office space, a water desalination plant and fueling station, is expected to be completed and operational by October 2009.

The marine base facility is an 80 million USD project jointly funded by the European Bank for Reconstruction and Development and Caspian. The marine base will enable Caspian to provide an unparalleled range of services to the oil industry exploring the massive reserves of the Kazakhstan sector of the North Caspian Sea

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 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 is building a marine base facility in the Port of Bautino. The Company maintains corporate offices in Almaty, Kazakhstan, Aktau, Kazakhstan and Salt Lake City, Utah

For Further 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 – 7 727 2 508 478 / Fax – 7 727 2 508 479
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.