Omega Navigation Enterprises, Inc. (ONAV) Chief Executive Officer to Ring the NASDAQ Stock Market Closing Bell


ADVISORY, May 23, 2007 (PRIME NEWSWIRE) --



 What:
 George Kassiotis, Chief Executive Officer of Omega Navigation 
 Enterprises, Inc. (ONAV) will preside over the closing bell.

 Where:
 NASDAQ MarketSite - 4 Times Square - 43rd & Broadway - Broadcast Studio

 When: 
 Thursday, May 24, 2007 at 4 p.m. ET

 Contacts:
 Investor Relations / Financial Media: 
 Nicolas Bornozis
 Capital Link, Inc. 
 Tel. (212) 661-7566
 E-mail: nbornozis@capitallink.com

 NASDAQ MarketSite:
 Jolene Libretto; 646.441.5220; 347.219.9539
 Jolene.Libretto@NASDAQ.com

Feed Information:

The closing bell is available from 3:50 p.m. to 4:05 p.m. on uplink IA-6 C-band/transponder 17. The downlink frequency is 4040 Vertical; Audio 6.2-6.8. The feed can also be found on Waterfront fiber 1623. If you have any questions, please contact Jolene Libretto at (646) 441-5220.

Radio Feed:

An audio transmission of the closing bell is also available from 3:50 p.m. to 4:05 p.m. on uplink IA6 C band / transponder 24, downlink frequency 4180 horizontal. The feed can be found on Waterfront fiber 1623 as well.

Webcast:

A live Webcast of the NASDAQ Closing Bell will be available at: http://www.nasdaq.com/reference/marketsite_about.stm

Photos:

To obtain a hi-resolution photograph of the Market Close, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market close of your choice.

About Omega Navigation Enterprises, Inc. (ONAV):

Omega Navigation Enterprises, Inc. is an international provider of global marine transportation services, through the ownership and operation of eight double hull product tankers. The current fleet includes eight double hull product tankers with a carrying capacity of 512,358 dwt. These eight product tankers are chartered out under three-year period time charters. The Company also has or had options to acquire two additional double hull Ice Class 1A Panamax product carriers currently under construction at STX Shipbuilding in South Korea, which are expected to be available for delivery between August and September 2007.

The Company was incorporated in the Marshall Islands in February 2005. Its principal executive offices are located in Piraeus, Greece and it also maintains an office in the United States.

Omega Navigation's Class A common shares are traded on the NASDAQ National Market under the symbol "ONAV" and are also listed on the Singapore Exchange Securities Trading Limited under the symbol "ONAV 50".