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Blue Star Maritime (BSMD)

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Wednesday 05 July, 2006

Blue Star Maritime

Acquisition

Blue Star Maritime S.A.
05 July 2006

                            BLUE STAR MARITIME S.A.

                                  ANNOUNCEMENT


Blue Star Maritime S.A. wishes to announce that it acquired the total assets of
DANE SEA LINE at an auction which took place today in the island of Rhodes.



The assets of DANE include car-passenger ferries DIAGORAS, PATMOS and RHODOS and
certain items of real estate in the town of Rhodes.





The acquisition price stands at Euro 15,400,000 and payables to Seamen Insurance
Pension Fund stand at Euro 4,500,000 therefore the total cost is Euro
19,900,000.



The above transaction is in line with the company's policy of strengthening its
presence in the Greek domestic market routes.



                             Voula, 5th July, 2006








For more information please contact:

Mr. Dionissis Theodoratos

BLUE STAR MARITIME S.A.

Tel.: +30 210 891 9820

Fax: +30 210 891 9829

e-mail: [email protected]




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