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Oceanfreight Names New COO

Maritime Activity Reports, Inc.

January 15, 2008

OceanFreight Inc., a provider of seaborne transportation services announced today that Michael Gregos was appointed as the Company's Chief Operating Officer. The search for a Chief Financial Officer is still ongoing. Prior to joining OceanFreight in September 2007, Michael Gregos was Project Manager for Dynacom Tankers Management Ltd. which he joined in 2001. Prior to that period, he worked for a shipping concern based in Athens and New York for five years and the Corporate Finance arm of a Greek bank for one year. He is a graduate from Queen Mary University in London and holds an MSc in Shipping, Trade and Finance from City University.

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