Omega Navigation Enterprises, Inc. (NASDAQ: ONAV) (SGX: ONAV50), a provider of global marine transportation servicesfocusing on product tankers, announced today that its Annual Report on Form20-F for the fiscal year ended December 31, 2007 has been filed with theSecurities and Exchange Commission and may be accessed through the OmegaNavigation website
www.omeganavigation.com at the investor relationssection under Annual Reports.
Shareholders may also request a hard copy of the Company's Form 20-F freeof charge, by contacting Capital Link, Investor Relations advisors forOmega Navigation, using the contact details provided below.
About Omega Navigation Enterprises, Inc.
Omega Navigation Enterprises, Inc. is an international provider of globalmarine transportation services through the ownership and operation ofdouble hull product tankers. The current fleet includes eight double hullproduct tankers with a carrying capacity of 512,358 dwt which are charteredout under three-year time charters with an average age of less than threeyears. The company has also announced the signing of shipbuilding contractsto construct and acquire five additional product tankers with a capacity of37,000 dwt each scheduled for delivery between March 2010 and early in 2011and two additional product tankers with a capacity of 47,000 dwt the firstscheduled for delivery on or about the second quarter 2009 and the secondscheduled for delivery on or about the third quarter 2010. With theaddition of these seven vessels, Omega's fleet will expand to 15 producttankers with a total deadweight capacity of 791,358 dwt.
The Company was incorporated in the Marshall Islands in February 2005. Itsprincipal executive offices are located in Piraeus, Greece and it alsomaintains an office in the United States.
Omega Navigation's Class A Common Shares are traded on the NASDAQ NationalMarket under the symbol "ONAV" and are also listed on the SingaporeExchange Securities Trading Limited under the symbol "ONAV 50."
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-lookingstatements. The Private Securities Litigation Reform Act of 1995 providessafe harbor protections for forward-looking statements in order toencourage companies to provide prospective information about theirbusiness.
