Omega Navigation Enterprises, Inc. Announces Entering into an Amendment of the Maturity Date of its Current Debt Facilities

Athens, Greece, May 10, 2011 - Omega Navigation Enterprises, Inc. (NASDAQ:ONAV), a leading provider of Global Marine Transportation services specializing in product tankers, announces that it has reached an agreement with its lenders to amend the maturity date of both the current senior and junior loan facilities.

With this agreement the new maturity date will be May 13, 2011 on both facilities, amended from the current maturity date of May 10, 2011.

Omega Navigation Enterprises, Inc.