Grey Wolf, Inc. Earnings Conference Call Invitation February 21, 2008 - 9:00 a.m. CT

Grey Wolf, Inc. invites you to join Thomas P. Richards, Chairman, President and Chief Executive Officer, David J. Crowley, Executive Vice President and Chief Operating Officer and David W. Wehlmann, Executive Vice President and Chief Financial Officer, Thursday, February 21, 2008 at 9:00 a.m. CT for a discussion of operating results for the fourth quarter and year ended December 31, 2007. Grey Wolf will release earnings after the market closes on February 20, 2008. Following the presentation there will be a question and answer period.       Date: February 21, 2008 Time: 9:00 a.m. CT Dial-In Number:   Domestic: 800-952-4645 International: 212-231-2902 Reservation Number: 21374010   Please call ten minutes ahead of time to ensure proper connection. The conference call will be recorded and available for replay at 11:00 a.m. CT on February 21, 2008 until 11:00 a.m. CT on February 23, 2008. To hear the recording, please call (800) 633-8284 domestically or (402) 977-9140 internationally and enter access code 21374010. The call will also be webcast live on the Internet through our website at: www.gwdrilling.com The call will be available for replay through our website for approximately two weeks after the conclusion of the call. A copy of our earnings release will also be available on our website. If you have any questions, please call David W. Wehlmann with Grey Wolf at (713) 435-6100.