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Blue Star Maritime (BSMD)

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Wednesday 19 July, 2006

Blue Star Maritime

Completion of Taxation Audit

Blue Star Maritime S.A.
19 July 2006


                         COMPLETION OF TAXATION AUDIT

In accordance with the provisions of paragraph 9d of article 275 of the
Regulation of the Athens Exchange, Blue Star Maritime S.A. informs that the
taxation audit by the tax authorities for years 2002, 2003 and 2004 has been
completed.  Total taxes charged amount to € 82,044.62.  The Company had already
made a tax provision for unaudited fiscal years of € 57,750 and therefore the
additional amount of € 24,294.62 will be posted in the results of the second
quarter of 2006.

Furthermore, the taxation audit for all the companies included in the
consolidation of Blue Star Maritime S.A. has been completed.

Specifically, the companies audited were Blue Star Ferries Maritime S.A. for
years 2000 to 2004 (5 fiscal years), Blue Star Ferries S.A. for years 2002 to
2005 (4 fiscal years), Blue Star Ferries Joint Venture for years 2002 to 2004 (3
fiscal years) and Strintzis Lines Shipping Ltd for years 2003 and 2004 (2 fiscal
years).  Total taxes charged for all the above companies stand at € 151,937.18.
The Group had made a tax provision for unaudited fiscal years of € 93,400 and
therefore the additional amount of € 58,537.18 will be posted in the results of
the second quarter of 2006.


                             Voula, 19th July 2006


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