JERSEY, Channel Islands, Nov. 11, 2005 (PRIMEZONE) -- Double Hull Tankers, Inc. (NYSE:DHT) today announced that the underwriters of its previously completed initial public offering have exercised their over-allotment option for an additional 648,500 shares of DHT's common stock, at a price to the public of $12.00 per share. All of the over-allotment shares are being sold by a subsidiary of Overseas Shipholding Group, Inc. As a result, OSG's beneficial ownership in DHT will be reduced to 44.5%. DHT will not receive any proceeds from the sale of the over-allotment shares, which is expected to close on Wednesday, November 16, 2005.
UBS Investment Bank and Merrill Lynch & Co. are serving as joint book-running managers of the offering.
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 state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. A copy of the prospectus relating to the offering has been filed with the Securities and Exchange Commission and may be obtained from: UBS Securities LLC, Attn: Prospectus Department, 299 Park Avenue, 25th Floor, New York, NY 10171 or Merrill Lynch & Co., 4 World Financial Center, New York, NY 10080.