TEN DECLARES SEMI-ANNUAL DIVIDEND

15 March 2010

Total distribution for fiscal 2009 $0.60 per share, 16th totaling $8.175 per share since listing on the NYSE in March 2002 consecutive semi-annual dividend payment

ATHENS, GREECE –March 15, 2010: Tsakos Energy Navigation Limited (TEN) (NYSE:TNP) announced today that its Board of Directors has declared the Company’s semi-annual dividend of $0.30 per share payable April 29th 2010 with a record date of April 23rd 2010 and an ex-dividend date of April 21st 2010.

“We are pleased to announce the second semi-annual dividend for fiscal 2009 of $0.30, raising the total distribution for the year to $0.60 per share. The sustainability of our dividend distributions is a testament to TEN’s fleet, operational and commercial strategies, the strong balance sheet and overall capital structure, which enables the Company to remain profitable and to generate positive cash flows even in difficult economic climates” commented Mr. D. John Stavropoulos, Chairman of the Board. “In these most testing times for the world’s economy, TEN is proud to be navigating a steady ship and maintaining its ability to reward its shareholders with healthy dividend distributions.”

TEN intends to continue to pay cash dividends representing between one-quarter and one-half of ordinary net income. Such payments are subject to the discretion of the Board of Directors and depend on available cash, anticipated cash needs, overall financial condition, loan agreement restrictions, capital commitments, future prospects for earnings and cash flows, as well as other relevant factors. The Company pays a semi-annual dividend for a given fiscal year in October of that year and in April of the following year.

TEN will have distributed $8.175 per share in dividends to its shareholders since the Company was listed on the NYSE in March of 2002. The listing price was $7.50 per share accounting for the 2-1 share split of November 14th , 2007.

TEN's pro forma fleet consists of 49 double-hull vessels of 5.2 million dwt and includes two DNA-aframax crude carriers and two suezmax tankers currently under construction totaling 526,000 dwt. TEN’s balanced fleet profile is reflected in 24 crude tankers ranging from VLCCs to aframaxes and 24 product carriers ranging from aframaxes to handysize and one LNG.

Tsakos Energy Navigation press release