TIDEWATER INC — Director's Dealing 2004

Apr 1, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2004-03-30

Reporting Person: CARLSON ARTHUR R (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-30	Stock Option (Right to Buy)	$28.05	A	5000	Acquired	2014-03-30	Common Stock (5000)	Direct

Footnotes

F1: Director stock option granted under the Tidewater Inc. 2001 Stock Incentive Plan in a transaction exempt under Rule 16b-3. The Plan pursuant to which the reported option was granted provides for tax withholding rights.