STEALTHGAS Takes Delivery of Acquired Vessels

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.