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, 5^th 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: theodoratos@bluestarferries.com
www.bluestarferries.com