StealthGas Inc. announces public offering of common stock

ATHENS, GREECE – April 23, 2013

StealthGas Inc. (the “Company”) (NASDAQ: GASS) announced today an underwritten public offering of 8,000,000 shares of its common stock pursuant to the Company’s effective shelf registration statement filed with the Securities and Exchange Commission. An entity controlled by the family of the Company’s President and Chief Executive Officer has indicated its intention to purchase approximately 5% of the shares offered in the offering. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to 1,200,000 additional shares of its common stock.

The Company intends to use a portion of the net proceeds of the offering to partially fund the acquisition of five vessels, including three secondhand LPG carriers and two newbuilding LPG carriers, which are scheduled for delivery in May 2013 in the case of the three secondhand LPG carriers, and during the first half of 2014 in the case of the two newbuilding LPG carriers. The Company intends to use the remaining net proceeds of the offering for capital expenditures, including vessel acquisitions, and for other general corporate purposes.

Wells Fargo Securities and Deutsche Bank Securities are acting as joint book-running managers for this offering and Global Hunter Securities, Clarkson Capital Markets and Evercore Partners are acting as co-managers for this offering.

The offering is being made only by means of a prospectus supplement and accompanying base prospectus. When available, the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, or by calling (800) 326-5897 or by email at cmclientsupport@wellsfargo.com and Deutsche Bank Securities, Attention: Prospectus Group, 60 Wall Street, New York, New York 10005-2836 (telephone: 1-800-503-4611).

This press release shall 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 such jurisdiction.

About StealthGas Inc.
Headquartered in Athens, Greece, StealthGas Inc. is a ship-owning company primarily serving the liquefied petroleum gas (“LPG”) sector of the international shipping industry. StealthGas Inc. currently has a fleet of 33 LPG carriers with a total capacity of 161,822 cubic meters, three medium range product tankers and one Aframax oil tanker with a total capacity of 255,804 deadweight tons. The Company has agreed to acquire nine LPG carriers, with expected deliveries in 2013, 2014 and 2015. Once the acquisition of the nine LPG carriers is completed and the vessels are delivered, StealthGas Inc.’s LPG carrier fleet will be composed of 42 LPG carriers with a total capacity of 211,222 cubic meters. StealthGas Inc.’s shares are listed on the NASDAQ Global Select Market and trade under the symbol "GASS".

StealthGas Inc. Press Release