General Maritime Corporation Announces Pricing of Common Stock Offering

NEW YORK, June 17, 2010 /PRNewswire via COMTEX/ --General Maritime Corporation ("General Maritime" or the "Company") (NYSE: GMR) announced today the pricing of its underwritten public offering of 30,600,000 shares of newly issued common stock at a price to the public of $6.75 per share. General Maritime has also granted the underwriters for the offering a 30-day option to purchase up to an aggregate of 4,590,000 additional shares of common stock. The shares will be issued pursuant to the Company's existing shelf registration statement. The offering is expected to close on June 23, 2010, subject to the satisfaction of customary closing conditions.

The Company expects to receive net proceeds of approximately $195.6 million from the offering (excluding any exercise of the underwriters' option to purchase additional shares of common stock) after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use all of the net proceeds from the offering to fund a portion of the purchase price for its previously announced acquisition of seven tankers.

The offering is being made only by means of a prospectus and related prospectus supplement. A copy of the preliminary prospectus supplement, together with the prospectus, has been filed with the U.S. Securities and Exchange Commission and is available on the SEC's website, www.sec.gov. Goldman, Sachs & Co., Dahlman Rose & Company, LLC, Jefferies & Company, Inc. and J.P. Morgan Securities Inc. are acting as bookrunners and Credit Suisse Securities (USA) LLC, DnB NOR Markets, Wells Fargo Securities, LLC, Fearnley Fonds ASA and RS Platou Markets AS are acting as co-managers in the offering.

The preliminary prospectus supplement and related prospectus may also be obtained by contacting:

Goldman, Sachs & Co.
200 West Street
New York, NY 10282-2198
Attention: Prospectus Department
prospectus-ny@ny.email.gs.com
Tel: 866- 471-2526

or

Dahlman Rose & Co.
142 West 57th Street
New York, NY 10019
Attention: Prospectus Department
prospectus@dahlmanrose.com

or

Jefferies & Company, Inc.
520 Madison Avenue, 12th Floor, Syndicate Middle Office
New York, NY 10022
Attention: Stephen M. Ficara
Sficara@Jefferies.com
Tel: 212-284-3418

or

J.P. Morgan Securities Inc.
1155 Long Island Avenue
Edgewood, NY 11717
Attention: Broadridge Financial Solutions
Tel: 866-803-9204

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction. The shares will be offered only by means of a prospectus, including the prospectus supplement relating to the shares, meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

About General Maritime Corporation
General Maritime Corporation is a leading provider of international seaborne crude oil transportation services. General Maritime also provides transportation services for refined petroleum products. General Maritime's vessels operate 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. Currently, General Maritime owns a fully double-hull fleet of 31 tankers - two VLCCs, eleven Suezmax tankers, twelve Aframax, two Panamax and four Handymax product tankers - with a total carrying capacity of approximately 4.0 million dwt.

General Maritime Corp. press release