EXIT FROM CONTAINER MARKET

16 November 2009


Aries has preliminarily agreed to sell the MSC Seine and Saronikos Bridge for an aggregate purchase price of $11.4 million, payable in cash at closing. If the sales proceed, they are expected to close during the fourth quarter of 2009.

Each of the MSC Seine and Saronikos Bridge is a 2,917 TEU container vessel built in 1990. Upon the closing of these transactions, Aries will have exited the container market.

About Aries Maritime Transport Limited
Aries Maritime Transport Limited is an international shipping company that owns and operates product tankers, container and dry bulk 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 and three dry bulk vessels secured on period charters.

Aries Maritime Transport Limited press release