Omega Navigation Enterprises, Inc. Announces a Change in the Composition of tts Board of Directors

Wednesday, March 09, 2011

Omega Navigation Enterprises, Inc. (NASDAQ:ONAV), a leading provider of Global Marine Transportation services specializing in product tankers, announces that Matthew W. McCleery has stepped down from its Board of Directors and Audit Committee and Compensation Committee effective as of March 1, 2011.

Mr. McCleery has been a member of the Board of Directors of the Company since April, 2006. His resignation, which was a mutual decision between him and the Company, will allow him to take a more active role in and devote more time to the Company in the area of new business development and planning.

Mr. George Kassiotis, CEO of Omega, said "We wish to thank Mr. McCleery for all his hard work and effort while he was a member of our Board. Mr. McCleery has been a very valuable member of our Board since the time of our IPO. We look forward to spending more time with Mr. McCleery as we work together on future projects."

The Company's Board of Directors following Mr. McCleery's resignation consists of seven members, of which five are independent.

Source: Omega Navigation Enterprises

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