Marathon Acquisition Corp. Announces Stockholder Approval of Merger with Global Ship Lease, Inc.

12 August 2008

NEW YORK, NY--(MARKET WIRE)--Aug 12, 2008 -- Marathon Acquisition Corp. ("Marathon") (MAQU - News) (MAQ - News) (OTC BB:MAQWS.OB - News) today announced that its stockholders approved Marathon's proposed merger with Global Ship Lease, Inc., a containership charter owner, at a special stockholders meeting held today in New York.

Both of the additional proposals presented at the special meeting were also approved by Marathon stockholders.

Marathon anticipates that the merger will close on August 13, 2008 or August 14, 2008, subject to the satisfaction of customary closing conditions.

About Marathon
Marathon Acquisition Corp. is a "blank check" company formed to acquire, through a merger, capital stock exchange, asset acquisition or similar business combination, one or more businesses. In August 2006, Marathon through its initial public offering raised net of fees and expenses, approximately $308.8 million which included $5.5 million in a private placement of sponsor warrants that were deposited into a trust account. Marathon has dedicated its time since the initial public offering to seeking and evaluating business combination opportunities.

About Global Ship Lease
Global Ship Lease is a rapidly growing containership charter owner and is currently a subsidiary of CMA CGM of France ("CMA CGM"), the world's third largest container shipping company. Incorporated in the Marshall Islands, Global Ship Lease commenced operations in December 2007 with a business of owning and chartering out containerships under long-term, fixed rate charters to world class container liner companies.

Global Ship Lease currently owns 12 vessels and has contracts in place to purchase an additional five vessels for $437 million from CMA CGM four of which are expected to be delivered in December 2008 and one in July 2009. The merger transaction values Global Ship Lease and its seventeen vessel fleet at approximately $1.0 billion. Following stockholder and warrantholder approval of the merger, Marathon's stockholders will own approximately 66% of Global Ship Lease and CMA CGM will own approximately 34%.

Once all of the contracted vessels have been delivered, Global Ship Lease will have a 17 vessel fleet with total capacity of 66,297 TEU and a weighted average age of 5.5 years. All of the contracted vessels are under long-term charters to CMA CGM with an average remaining charter term of approximately 11 years.

Source: Marathon Acquisition Corp.