Tsakos Energy Navigation Limited Announces Public Offering of
Series C Cumulative Redeemable Perpetual Preferred Shares

Athens, Greece – September 25, 2013

Tsakos Energy Navigation Limited (“TEN”) (NYSE: TNP), a leading product, crude and LNG tanker operator, today announced that it plans to offer its Series C Cumulative Redeemable Perpetual Preferred Shares (the “Series C Preferred Shares”) in a public offering under its effective shelf registration statement. TEN intends to use the net proceeds from the offering for general corporate purposes, which may include making vessel acquisitions or investments. Following the offering, TEN intends to file an application to list the Series C Preferred Shares on the New York Stock Exchange.

UBS Investment Bank and Morgan Stanley will act as joint bookrunners for the offering. Jefferies will act as lead manager for the offering. Incapital and DNB Markets will act as co-managers for the offering.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by mean s of a prospectus supplement and accompanying base prospectus.

About Tsakos Energy Navigation
To date, TEN's fleet, including an LNG carrier under construction, consists of 49 double-hull vessels, a mix of product tankers, crude tankers and LNG carriers, totaling 4.9 million dwt. Of these, 28 are product carriers ranging from shuttle suezmaxes to handysize, 19 are crude tankers ranging from VLCCs to aframaxes, and two are LNG carriers.

Tsakos Energy Navigation press release