GENERAL MARITIME CORPORATION ENTERS INTO AGREEMENT
TO ACQUIRE TWO MODERN AFRAMAX VESSELS

New York, New York, May 12, 2008 - General Maritime Corporation (NYSE: GMR) today announced that it has agreed to acquire two 2002-built double hull Aframax vessels from Euronav NV or its affiliates for an aggregate purchase price of $137 million. The Company expects to take delivery of the two double hull vessels, subject to customary closing conditions, between July and October 2008. General Maritime plans to finance the acquisition through borrowings under its $900 million revolving credit facility and cash from operations.

Peter C. Georgiopoulos, Chairman, Chief Executive Officer and President, commented, “General Maritime has capitalized on an attractive opportunity to grow our double hull fleet in a manner that meets our return criteria, expands our earnings power and strengthens our high quality fleet. Based on Clarkson’s 10 year spot Aframax average, we expect this acquisition to provide General Maritime with a mid double-digit return. The acquisition also further improves the age profile of the Company’s fully double hull fleet reducing the age of the Aframax fleet by over a year. During a time when we continue to provide shareholders with sizeable dividends, we intend to seek additional opportunities to create shareholder value. In continuing to pursue this important objective, we intend to focus on areas that have served shareholders well through the years.”

About General Maritime Corporation General Maritime Corporation is a provider of international seaborne crude oil transportation services principally within the Atlantic basin which includes ports in the Caribbean, South and Central America, the United States, West Africa, the Mediterranean, Europe and the North Sea. We also currently operate tankers in other regions including the Black Sea and Far East. General Maritime Corporation currently owns and operates a fleet of 21 tankers. After the delivery of the two recently acquired Aframax vessels, General Maritime will own a fleet of 23 tankers – twelve Aframax, and eleven Suezmax tankers with a total carrying capacity of approximately 2.9 million dwt.

General Maritime Corp. press release