Aries Maritime Transport Limited Receives Nasdaq
Notification Letter Regarding Minimum Bid Price Rule

22/9/2009

ATHENS, Greece, Sep 22, 2009 (GlobeNewswire via COMTEX News Network) -- Aries Maritime Transport Limited (Nasdaq:RAMS) (the "Company") announced today that on September 16, 2009 the company received written notification from The Nasdaq Stock Market, LLC ("NASDAQ") indicating that because the closing bid price of the Company's common stock for the previous 30 consecutive business days was below the minimum $1.00 per share bid price requirement for continued listing on The Nasdaq Global Market, the Company is not in compliance with Nasdaq Listing Rule 5450(a)(1).

Aries Maritime common stock will continue to be listed and traded on The Nasdaq Global Market during the applicable grace period. During the next 180 calendar days, the Company may regain compliance with the minimum bid price requirement by maintaining a closing bid price at or above $1.00 per share for at least ten consecutive business days pursuant to Listing Rule 5810(c)(3)(A). Beyond this 180-day period ending March 15, 2010, the Company may also be eligible for an additional grace period provided it demonstrates compliance with all the initial standards for listing on The Nasdaq Capital Market as set forth in Listing Rule 5505, with the exception of the minimum bid price.

The Company continues to monitor its closing bid price and is considering its options in order to regain compliance with the bid price requirement.

About Aries Maritime Transport Limited

Aries Maritime Transport Limited is an international shipping company that owns and operates products tankers and container vessels. The Company's products tanker fleet consists of five MR tankers and four Panamax tankers, all of which are double-hulled. The Company also owns a fleet of two container vessels in capacity of 2,917 TEU each. Three of the Company's 11 vessels are secured on period charters. Charters for two of the Company's products tanker vessels currently have profit-sharing components.

Aries Maritime Transport Limited press release