EX-99 3 blank7-18ex99_1.txt 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 2003 Share Incentive Plan. (2) 375 of the options will vest on January 15, 2004; 375 of the options will vest on January 15, 2005; 375 of the options will vest on January 15, 2006; 375 of the options will vest on January 15, 2007; and 375 of the options will vest on January 15, 2008.