TOP SHIPS Announces New Trading Symbol

ATHENS, Greece, Jan 02, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- TOP Tankers (Nasdaq: TOPT) announced today that effective as of the open of market trading tomorrow, January 3, 2008, the Company's shares will begin trading under the new trading symbol "TOPS". This concludes actions to be taken by the Company in connection with the change of its name to "TOP SHIPS Inc." as announced on December 17, 2007.


About TOP SHIPS Inc.
TOP SHIPS Inc., formerly known as TOP Tankers Inc., is an international provider of worldwide seaborne crude oil and petroleum products and of drybulk transportation services. Upon delivery of one tanker to its new owners, the Company will operate a fleet of 19 tankers, consisting of 11 double-hull Suezmax tankers and 8 double-hull Handymax tankers, with a total carrying capacity of approximately 2.0 million dwt, of which 78% are sister ships, and two drybulk vessels. It expects delivery of four more drybulk vessels between January and March 2008. Thirteen of the Company's 19 tankers will be on time charter contracts with an average initial term of over two years with all but three of the time charters including profit sharing agreements. Three of the Company's drybulk vessels will have period charter contracts for an average period of 18 months.

Top Tankers Press Release