Aegean Marine Petroleum Network Inc. Acquires Three Double-Hull Bunkering Tankers

Strengthens Fleet Profile in Greek Market

PIRAEUS, Greece, July 22 /PRNewswire-FirstCall/ -- Aegean Marine Petroleum Network Inc. (NYSE: ANW) today announced that it has acquired three double- hull bunkering tankers which will be deployed to Aegean's service center in Piraeus. These vessels are replacing the single-hull fleet, previously owned and operated by a related party, which needed to be phased-out as per the IMO's and EU's requirements on the carriage of heavy grade fuel by single-hull bunkering tankers beyond the year 2008.

Included in this acquisition are the Aegean III, a 1990-built 2,972 dwt double-hull bunkering tanker, the Aegean VIII, a 1990-built 2,972 dwt double- hull bunkering tanker, and the Aegean XII, a 1979-built 3,660 dwt double-hull bunkering tanker. With the addition of these vessels, Aegean now owns and operates 26 bunkering tankers and 2 barges. The Company expects to take delivery of the remaining 24 double-hull bunkering tanker newbuildings over the next two years, which will expand Aegean's bunkering fleet to 52.

E. Nikolas Tavlarios, President, commented, "This strategic acquisition of three double-hull bunkering tankers in the secondary market significantly enhances our fleet profile in Piraeus, puts the Company in compliance with the IMO/EU double-hull requirements, and strengthens our competitive position in the ownership and operation of a double-hull fleet."

About Aegean Marine Petroleum Network Inc.
Aegean Marine Petroleum Network Inc. is an international marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea. As a physical supplier, the Company purchases marine fuel from refineries, major oil producers and other sources. The Company sells and delivers these fuels to a diverse group of ocean-going and coastal ship operators and marine fuel traders, brokers and other users through its service centers in Greece, Gibraltar, Singapore, Jamaica, the United Arab Emirates, Northern Europe, West Africa, the United Kingdom and North America.

Source: Aegean Marine Petroleum