As Swift celebrates its 25th anniversary in 2004, one of the cornerstones to its success over the past two and a half decades has been the leadership of its experienced management team.

Swift has successfully navigated the tumultuous industry cycles of recent decades under the leadership of a management team that strives to ethically balance stakeholder interests at all times. From its roots, Swift Energy’s culture has emphasized balance, reflecting the values of principal founder A. Earl Swift, who believes that successful organizations must balance authoritative leadership with individual initiative and group participation. In 1988, Mr. Swift articulated his vision for the desired organizational culture at Swift: to create a corporate environment that encourages individual initiative and creativity; to maintain flexibility and teamwork by promoting open communication across disciplinary boundaries and between functional areas; and to uphold a formal organizational structure and a system of policies and procedures that balance clear lines of authority with an innovative, participatory corporate culture. This balance has served Swift well by providing the creativity and teamwork needed to respond quickly to changes in the competitive environment over the past 25 years, while guaranteeing a measure of control and transparency within a system of checks and balances.

Long before the nation’s recent emphasis on corporate accountability, Swift had outside measures of accountability in place. For many years, the majority of Swift’s Board of Directors have been outside independent directors. In September 2003, a new member joined the board: Greg Matiuk, a retired executive vice president of ChevronTexaco Corp. During his 36 years with ChevronTexaco, Mr. Matiuk served as a production and reservoir engineer and in various engineering and management positions in production, corporate strategic planning, human resources and corporate services.

The same principles of balance, openness, and ethical conduct that are trademarks of Swift Energy in the United States are part of the Company’s growing overseas organization, Swift Energy New Zealand Limited (SENZ). SENZ is a wholly owned subsidiary of Swift Energy International, Inc., a Texas corporation, which in turn is a wholly owned subsidiary of Swift Energy Company. In February 2004, Bruce H. Vincent, who has been with Swift Energy since 1990, was named president of Swift Energy International in addition to his current responsibilities as executive vice president–corporate development and secretary. Robert J. Banks, who has over 25 years of oil and gas industry experience in 12 countries, including New Zealand, was newly employed and named vice president–international operations of Swift Energy International.

The seasoned management teams in place in the United States and in New Zealand, many of whom have worked together for over a decade, are prepared to lead the Company into the new era that is evolving for the oil and gas industry. Having built a strong foundation over the past quarter century, Swift’s leadership is ready to pursue further long-term opportunities that will lead to growth in shareholder value.