Terino News

General Maritime Corporation and Arlington Tankers Ltd. jointly entered into a definitive agreement whereby the two companies will combine in a stock- for-stock combination. Under the terms of the definitive agreement, approved unanimously by the Boards of Directors of both General Maritime and Arlington Tankers, shareholders of General Maritime will receive 1.340 shares of the combined company for each share of General Maritime held, and shareholders of Arlington Tankers will receive one share of the combined company for each share of Arlington Tankers held. The combination will create a leading publicly traded tanker company. The combined company, to be named General Maritime Corporation, will be headquartered in .

Arlington Tankers Ltd. said that Arthur L. Regan has informed the Company that he intends to step down from his position as President and Co-Chief Executive Officer of the Company to pursue other interests. Regan will remain with the Company for a brief transition period. Following Regan's departure from the company, Edward Terino, currently the company's Co-Chief Executive Officer and Chief Financial Officer, will also serve as the company's interim President and will assume operating responsibility for all areas of the company.