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Al Falahi Appointed CEO of GEM

Maritime Activity Reports, Inc.

December 13, 2006

Gulf Energy Maritime (GEM) has appointed UAE national Ahmed Essa Hareb Al Falahi as Chief Executive Officer with the task of spearheading the company's strategy to climb the world's leading tanker operator rankings. Hareb joins the UAE-headquartered corporation after an eight year management career at Etisalat - the Emirates' main telecommunications supplier and the largest single non-oil contributor outside UAE Federal Government development programmes. There he headed the mergers and acquisitions division for the Fortune 500 company currently standing 140th among the Financial Times Top 500 global corporations. Yusr Sultan stepped down to undertake a full time board level role as Director. He will concentrate on corporate policy, management team expansion and GEM's strategic growth. Source: AEM

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