<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>rose7-18ex99_1.txt
<TEXT>
                                                                  Exhibit 99.1


                            EXPLANATION OF FOOTNOTES
                            ------------------------


(1)  The options and restricted stock awards being reported on this Form 4 were
     granted pursuant to SEACOR SMIT Inc.'s 1996 Share Incentive Plan.

(2)  75 of the options will vest on January 15, 2004; 75 of the options will
     vest on January 15, 2005; 75 of the options will vest on January 15, 2006;
     75 of the options will vest on January 15, 2007; and 75 of the options will
     vest on January 15, 2008.


</TEXT>
</DOCUMENT>