X0201 5 2003-12-31 0 0 1 0000866829 CAL DIVE INTERNATIONAL INC CDIS 0001041815 KRATZ OWEN E 400 N SAM HOUSTON PARKWAY E SUITE 400 HOUSTON TX 77060 1 1 0 0 CHAIRMAN & CEO Stock Option (Option to Buy) 18.6400 2003-03-17 4 M 0 L 39579.0000 0 A 2004-03-17 2013-03-17 Common Stock 39579.0000 39579.0000 D Generally exercisable in annual installments of 7,916 shares commencing March 17, 2004 with the final installment exercisable on March 17, 2008. This option was granted to pursuant to the Company's 1995 Long Term Incentive Plan, as amended, and therefore has no purchase or sales price. The filing of this statement shall not be deemed an admission that any reporting person is, for purposes of section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the owner of any equity securities covered by this statement. /s/ James Lewis Connor, III by Power of Attorney 2004-02-11