Omega Navigation Loan Amendment

Press Release
Monday, May 16, 2011

Omega Navigation Enterprises, Inc. (NASDAQ:ONAV), a leading provider of Global Marine Transportation services specializing in product tankers, announces that it has reached an agreement with its lenders to amend the maturity date of both the current senior and junior loan facilities.

With this agreement the new maturity date will be May 17, 2011 on both facilities, amended from the current maturity date of May 13, 2011.



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