STEALTHGAS Takes Delivery of Acquired Vessels

Monday, December 19, 2005
STEALTHGAS Inc. announced has taken delivery of Feisty Gas and Gas Spirit, vessels which it had previously agreed to acquire. Feisty Gas is a Fully-Pressurized (F.P.) LPG carrier built in Japan in 2001 with a capacity of 4,250 cubic meters (cbm). It will be deployed under an existing time charter to an oil major at a rate of $199,000 per calendar month until August 2006. Gas Spirit is a Fully-Pressurized (F.P.) LPG carrier built in Japan in 2001 with a capacity of 4,250 cubic meters (cbm). It will be deployed under an existing time charter to an oil major at a rate of $195,000 per calendar month until June 2006. Thereafter Gas Spirit will be deployed until June 2007 at a rate to be agreed no later than the end of February 2006 at a per calendar month time charter rate for that 12 month period ranging between a minimum of $250,000 and a maximum of $350,000.
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