Ocean Tankers Purchases Fourth Ship

Ocean Tankers Holdings Public Company Limited has increased its fleet to four ships with the delivery of tanker M/T Montauk. M/T Montauk has been renamed to M/T Kalia and has already hoisted the Cypriot flag. The Company has already chartered the ship for two consecutive voyages and it is in constant negotiation with big oil companies for a time charter if the Board of Directors decides that this will be to the benefit of the Company and the shareholders. On February 2, 2007, Ocean Tankers Holdings Public Company Limited will sign a contract with shipyard Yangzhou Kejin Shipyard Co in Nicosia – Cyprus for the purchase of two new-fangled tankers of double inner-side, which will be delivered on March 31, 2007 and June 30, 2007 respectively.