The Company desires to take advantage of the safe harbor provisions of thePrivate Securities Litigation Reform Act of 1995 and is including thiscautionary statement in connection with this safe harbor legislation. Thewords "believe," "anticipate," "intends," "estimate," "forecast,""project," "plan," "potential," "will," "may," "should," "expect" "pending"and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon variousassumptions, many of which are based, in turn, upon further assumptions,including without limitation, the Company's management's examination ofhistorical operating trends, data contained in the Company's records andother data available from third parties. Although the Company believes thatthese assumptions were reasonable when made, because these assumptions areinherently subject to significant uncertainties and contingencies which aredifficult or impossible to predict and are beyond the Company's control,the Company cannot assure you that the Company will achieve or accomplishthese expectations, beliefs or projections.

In addition to these important factors other important factors that, in theCompany's view, could cause actual results to differ materially from thosediscussed in the forward-looking statements include the strength of worldeconomies and currencies, general market conditions, including fluctuationsin charter rates and vessel values, changes in demand for product tankerand dry bulk shipping capacity, changes in the Company's operatingexpenses, including bunker prices, drydocking and insurance costs, themarket for the Company's vessels, availability of financing andrefinancing, changes in governmental rules and regulations or actions takenby regulatory authorities, potential liability from pending or futurelitigation, general domestic and international political conditions,potential disruption of shipping routes due to accidents or politicalevents, vessels breakdowns and instances of off-hires and other factors.Please see the Company's filings with the Securities and ExchangeCommission for a more complete discussion of these and other risks anduncertainties.