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Blue Star Maritime (BSMD)

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Thursday 14 June, 2007

Blue Star Maritime

Dividend Declaration

Blue Star Maritime S.A.
14 June 2007


                                   ANNOUNCEMENT

               EX DIVIDEND DATE AND PAYMENT OF DIVIDEND FOR YEAR 2006

Blue Star Maritime S.A. hereby announces that as per the Annual General Meeting
of Shareholders' approval, the dividend for year 2006 is Euro 0.09 per share.
Entitled to the dividend are bearers of shares at the closing of the Athens
Exchange on 28th June, 2007.  As of Friday 29th June, 2007, all Blue Star shares
will trade ex-dividend. The payment of the dividend will commence on Monday 09th
July, 2007.

The dividend will be paid through the National Bank of Greece, as per below:

 1. The custodians of shareholders (securities firms and banks) via the Custodian
    Services division of the National Bank of Greece, 3rd floor, 6, Karagiorgi
    Servias Street, Athens 10562, tel.: +30 210 334 0611 and +30 210 334 0613,
    contact persons: Messrs. Ioannis Xidis and Ilias Dimitriou.

 2. The Shareholders who have not authorized their custodians can collect payment
    of the dividend via the branch network of the National Bank of Greece by
    presenting their certificate of entitlement to dividend and their identity
    card.

The payment of the dividend may be made to a third party provided they present,
in addition to the certificate of entitlement to the dividend, a statement of
proxy with the full data of the shareholder entitled to the dividend payment,
verified for the authenticity of its signature by the Police or other qualified
authority.

The payment of the dividend via the National Bank of Greece will last until 8th
July, 2008.  After 8th July, 2008, payment will take place only at the company's
offices at 157, C. Karamanli Avenue, Voula 16673, Greece, tel.: +30 210 891
9500, Shareholder Services Department.


                             Voula, 14th June, 2007


                      This information is provided by RNS
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