General Maritime Corporation Announces Amendment
to $372 Million Syndicated Credit Facility

Delivery of Suezmax Newbuilding Scheduled for October 6,

2010 NEW YORK, Oct 05, 2010 /PRNewswire via COMTEX/

General Maritime Corporation (NYSE: GMR) announced today that it has amended its $372 million senior secured credit facility, dated as of July 16, 2010 (the "Credit Facility").

Under the terms of the amended Credit Facility, the condition requiring the issuance of new common equity to finance at least 40% of the purchase price for the previously announced acquisition of seven vessels has been waived for a period of one year. All other material terms of the five-year facility remain unchanged. The $372 million Credit Facility, led by Nordea Bank Finland plc and DnB NOR, was successfully syndicated among four global lending institutions including NIBC Bank N.V., Skandinaviska Enskilda Banken AB (SEB), DVB Bank SE and Citibank, N.A.

Along with the amended Credit Facility, the Company entered into a $22.8 million bridge loan with Nordea Bank Finland plc and DnB NOR. Proceeds from the bridge loan will be used to fund a portion of the purchase price for the Genmar Maniate, a Suezmax newbuilding, which is expected to be delivered to General Maritime on October 6, 2010. The Genmar Maniate is the sixth of seven vessels to be delivered to the Company under its agreement previously announced on June 9, 2010 to acquire seven vessels from companies affiliated with the Metrostar Management Corporation.

The Company also announced that, under the terms of the $22.8 million bridge loan, its quarterly cash dividends will be reduced to $0.01 per share for the duration of the bridge loan. The other covenants under the bridge loan limiting the Company's use of cash are materially similar to those contained in the Company's existing credit facilities.

Jeffrey D. Pribor, Chief Financial Officer of General Maritime Corporation, stated, "We are pleased to complete the successful syndication and amendment of our $372 million Credit Facility while expanding our relationships with world-class banks. With our amended facility, we have increased our financial flexibility during a time when we continue to grow our modern, high-quality fleet. We appreciate the ongoing support from global lending institutions, underscoring General Maritime's leading industry position and future growth prospects."

About General Maritime Corporation
General Maritime Corporation is a leading crude and products tanker company serving 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. General Maritime also currently operates tankers in other regions including the Black Sea and Far East. General Maritime owns a fully double-hull fleet of 37 tankers - seven VLCC, twelve Aframax, twelve Suezmax tankers, two Panamax and four Product tankers - with a total carrying capacity of approximately 5.6 million dwt.

General Maritime Corp. press release