KEX Kirby Corporation

Recent announcement by a major customer is anticipated to have minimal impact on petrochemical volumes transported HOUSTON, June 25 /PRNewswire-FirstCall/ -- Kirby Corporation ("Kirby") (NYSE:KEX) commented today on a recent public announcement by a major petrochemical customer which plans to temporarily idle or reduce production of some products it manufactures at locations in the United States and Europe. Kirby anticipates a minimal impact on petrochemical volumes transported for that customer. Kirby also confirmed its 2008 second quarter earnings guidance of $.69 to $.74 per share, a 23% to 32% increase when compared with $.56 per share earned in the 2007 second quarter, and confirmed its 2008 year guidance of $2.74 to $2.89 per share, a 20% to 26% increase compared with $2.29 per share earned in 2007. Joe Pyne, Kirby's President and Chief Executive Officer commented, "Our marine transportation and diesel engine services business levels remain favorable. The recent flooding on the Mississippi River System above St. Louis is anticipated to have a minimal impact on our second quarter results." Kirby Corporation, based in Houston, Texas, operates inland tank barges and towing vessels, transporting petrochemicals, black oil products, refined petroleum products and agricultural chemicals throughout the United States' inland waterway system. Kirby also owns and operates four ocean-going barge and tug units transporting dry-bulk commodities in United States coastwise trade. Through the diesel engine services segment, Kirby provides after-market service for medium-speed and high-speed diesel engines and reduction gears used in marine, power generation and railroad applications. Statements contained in this press release with respect to the future are forward-looking statements. These statements reflect management's reasonable judgment with respect to future events. Forward-looking statements involve risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors, including cyclical or other downturns in demand, significant pricing competition, unanticipated additions to industry capacity, changes in the Jones Act or in U.S. maritime policy and practice, fuel costs, interest rates, weather conditions, and timing, magnitude and the number of acquisitions made by Kirby. Forward-looking statements are based on currently available information and Kirby assumes no obligation to update any such statements. A list of additional risk factors can be found in Kirby's annual report on Form 10-K for the year ended December 31, 2007, filed with the Securities and Exchange Commission. DATASOURCE: Kirby Corporation CONTACT: Steve Holcomb of Kirby Corporation, +1-713-435-1135 Web site: http://www.kirbycorp.com/

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