Vessel Size Vessel Year Delivered Employment Charter Vessel (cbm) Type Built To GASS Status Expiration ------- ------ ------ --------- ---------- ---------- CURRENT FLEET Time Gas Cathar 7,517 F.P. 2001 Oct-05 Charter Aug-07 ------- ------ ------ --------- ---------- ---------- Gas Marathon 6,572 F.P. 1995 Nov-05 Bareboat Oct-07 ------- ------ ------ --------- ---------- ---------- Time Gas Chios 6,562 F.P. 1991 Oct-05 Charter Mar-08 ------- ------ ------ --------- ---------- ---------- Time Gas Amazon 6,526 F.P. 1992 May-05 Charter Nov-07 ------- ------ ------ --------- ---------- ---------- Time Gas Flawless 6,300 F.P. 2007 Feb-07 Charter Feb-09 ------- ------ ------ --------- ---------- ---------- Time Gas Monarch 5,018 F.P. 1997 Dec-05 Charter Jun-07 ------- ------ ------ --------- ---------- ---------- Time Gas Nemesis (6) 5,016 F.P. 1995 Jun-06 Charter June-07 ------- ------ ------ --------- ---------- ---------- Lyne (1) 5,014 F.P. 1996 May-06 Bareboat May-09 ------- ------ ------ --------- ---------- ---------- Time Gas Emperor 5,013 F.P. 1995 Feb-05 Charter Jun-07 ------- ------ ------ --------- ---------- ---------- Birgit Kosan 5,012 F.P. 1995 Apr-05 Bareboat Oct-07 ------- ------ ------ --------- ---------- ---------- Time Catterick 5,001 F.P. 1995 Nov-05 Charter Jan-08 ------- ------ ------ --------- ---------- ---------- Sir Ivor (2) 5,000 F.P. 2003 May-06 Bareboat May-09 ------- ------ ------ --------- ---------- ---------- Time Gas Sincerity (8) 4,123 F.P. 2000 Nov-05 Charter Jul-07 ------- ------ ------ --------- ---------- ---------- Time Gas Spirit (7) 4,112 F.P. 2001 Dec-05 Charter Jun-07 ------- ------ ------ --------- ---------- ---------- Time Gas Zael 4,111 F.P. 2001 Dec-05 Charter Mar-08 ------- ------ ------ --------- ---------- ---------- Time Gas Courchevel 4,109 S.R. 1991 Nov-04 Charter May-07 ------- ------ ------ --------- ---------- ---------- Gas Prophet (3) 3,556 F.P. 1996 Oct-04 Bareboat Sep-09 ------- ------ ------ --------- ---------- ---------- Time Gas Shanghai (5) 3,526 F.P. 1999 Dec-04 Charter Sep-07 ------- ------ ------ --------- ---------- ---------- Time Gas Czar 3,510 F.P. 1995 Feb-06 Charter Nov-07 ------- ------ ------ --------- ---------- ---------- Time Gas Legacy 3,500 F.P. 1998 Oct-05 Charter Apr-08 ------- ------ ------ --------- ---------- ---------- Time Gas Fortune 3,500 F.P. 1995 Feb-06 Charter Dec-07 ------- ------ ------ --------- ---------- ---------- Gas Eternity (4) 3,500 F.P. 1998 Mar-06 Bareboat Apr-10 ------- ------ ------ --------- ---------- ---------- Gas Artic 3,434 S.R. 1992 Apr-05 Bareboat Apr-09 ------- ------ ------ --------- ---------- ---------- Gas Ice 3,434 S.R. 1991 Apr-05 Bareboat Apr-08 ------- ------ ------ --------- ---------- ---------- Batangas 3,244 F.P. 1995 Jun-06 Bareboat Jul-08 ------- ------ ------ --------- ---------- ---------- Gas Crystal 3,211 S.R. 1990 Nov-05 Spot N/A ------- ------ ------ --------- ---------- ---------- Time Gas Oracle 3,014 F.P. 1990 Dec-05 Charter Dec-07 ------- ------ ------ --------- ---------- ---------- Time Gas Prodigy 3,014 F.P. 1995 Oct-05 Charter Dec-07 ------- ------ ------ --------- ---------- ---------- Time Gas Tiny 1,320 S.R. 1991 Oct-04 Charter Jan-09 ------- ------ ------ --------- ---------- ---------- FLEET TOTAL 126,769 29 VESSELS cbm ------- ------ ------ --------- ---------- ---------- Additional Vessels (with expected delivery date) Gas Haralambos 7,000 F.P. Oct-07 Oct-07 - - ------- ------ ------ --------- ---------- ---------- Time Gas Kalogeros (9) 5,000 F.P. Jul-07 Jul-07 Charter May-08 ------- ------ ------ --------- ---------- ---------- Time Gas Icon (10) 5,000 F.P. 1994 Jul-07 Charter Jul-08 ------- ------ ------ --------- ---------- ---------- Time Gas Sikousis (11) 3,500 F.P. 2006 Jul-07 Charter May-09 ------- ------ ------ --------- ---------- ---------- Gas Sophie 3,500 F.P. 1995 Oct-07 - - ------- ------ ------ --------- ---------- ---------- FLEET TOTAL 150,769 34 VESSELS cbm ------- ------ ------ --------- ---------- ----------
- F.P.: Fully Pressurized - S.R.: Semi-Refrigerated - (1) Lyne is employed under a bareboat charter until May 2009. Thereafter, at charterer's option, the bareboat charter can be extended for a further one year. - (2) Sir Ivor is employed under a bareboat charter until May 2009. Thereafter, at charterer's option, the bareboat charter can be extended for a further one year. - (3) Gas Prophet has for the three year duration of her bareboat charter been renamed the M.T. Ming Long. - (4) Gas Eternity will, from the commencement of her three-year bareboat charter in March 2007, be renamed the M.T. Yu Tian 9. - (5) Gas Shanghai is currently employed under a time charter until September 2007. Thereafter she will be employed on a further twelve months time charter. - (6) Gas Nemesis is currently employed under a time charter until June 2007. Thereafter she will be employed on a further twelve months time charter. - (7) Gas Spirit is currently employed under a time charter until June 2007 and thereafter she will be employed for a further twelve months time charter. - (8) Gas Sincerity is currently employed under a time charter until July 2007 and thereafter she will be employed on a further twelve Month-time charter. - (9) Gas Kalogeros upon delivery in July 2007 will be employed under a time charter for ten months with an oil major. - (10) Gas Icon upon delivery in July 2007 will be employed under a time charter for twelve months with an oil major. - (11) Gas Sikousis upon delivery in July 2007 will be employed under a time charter for twenty-two months with an oil major.About STEALTHGAS INC. Headquartered in Athens, Greece, STEALTHGAS INC. is a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry. STEALTHGAS INC. currently has a fleet of 29 LPG carriers with a total capacity of 126,769 cubic meters (cbm). In addition, the company has agreed to acquire two new building LPG carriers expected to be delivered to STEALTHGAS INC. in July and October 2007 respectively. It has also entered into agreements to acquire three additional LPG carriers with expected delivery between July and October 2007. Once these acquisitions are complete, STEALTHGAS INC.'s fleet will be composed of 34 LPG carriers with a total capacity of 150,769 cubic meters (cbm). STEALTHGAS' shares are listed on NASDAQ and trade under the symbol "GASS." Forward-Looking Statement Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although STEALTHGAS INC. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, STEALTHGAS INC. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charterhire rates and vessel values, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydocking, changes in STEALTHGAS INC.'s operating expenses, including bunker prices, dry-docking and insurance costs, or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists. Risks and uncertainties are further described in reports filed by STEALTHGAS INC. with the U.S. Securities and Exchange Commission. Visit our website at www.stealthgas.com
Contact Information: Company Contact: Andrew J. Simmons Chief Financial Officer STEALTHGAS INC. 011-30-210-6250-001 E-mail: simmons@stealthgas.com Investor Relations/Media: Nicolas Bornozis Capital Link, Inc.(New York) Tel. 212-661-7566 E-mail: nbornozis@capitallink.com