News Releases

NYSE To Suspend Trading in Key Energy Services, Inc. Moves to Remove from the List

NEW YORK, April 1, 2005 – The New York Stock Exchange announced today that it determined that the common stock of Key Energy Services, Inc. (the "Company") – ticker symbol KEG – should be suspended prior to the opening on Friday, April 8, 2005 or such earlier date as there is a material adverse development. The Company has advised the NYSE that it anticipates being quoted on the Pink Sheets Electronic Quotation Service following the suspension.

The decision was reached in view of the overall uncertainty surrounding the completion of the Company’s current financial statement filing requirements with the Securities and Exchange Commission (“SEC”) due to the previously announced restatement of its results.

The NYSE notes that it may make an appraisal of, and determine on an individual basis, the suitability for continued listing of an issue in light of all pertinent facts and circumstances whenever it deems such action appropriate. In addition, the NYSE may, at any time, suspend a security if it believes that continued dealings in or listing of the security on the NYSE are not advisable.

The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. Application to the SEC to delist the issue is pending the completion of applicable procedures, including any appeal by the Company of the NYSE staff’s decision.

See Section 802.00 of the NYSE Listed Company Manual for continued listing criteria and procedure for delisting

Contact: Robin Verhose
Phone: 212-656-2088
Email: roverhose@nyse.com