SOURCE: Crude Carriers

Crude Carriers

April 05, 2010 08:37 ET

Crude Carriers Corp. Reports Additional Management Share Purchases

ATHENS, GREECE--(Marketwire - April 5, 2010) -  Crude Carriers Corp. (NYSE: CRU), a tanker company focusing on the maritime transportation of crude oil cargoes, announced today that on Thursday, April 1, 2010, the Company's Chairman and Chief Executive Officer, Mr. Evangelos Marinakis, purchased 25,000 shares of Crude Carriers' common stock at a cost basis of $17.18 per share.

This purchase has brought the number of shares purchased by Mr. Evangelos Marinakis to a total of 145,000 shares. As previously announced, Mr. Evangelos Marinakis purchased 30,000, 70,000, 15,000 and 5,000 shares of Crude Carriers' common stock at a cost basis of $16.22, $16.63, $16.76 and $16.74 per share, respectively. In addition, on March 22, 2010, the Company's President, Mr. Ioannis Lazaridis, purchased 6,000 shares of common stock at a cost basis of $16.25 per share and the Company's Chief Financial Officer, Mr. Jerry Kalogiratos, purchased 3,000 shares of common stock at a cost basis of $16.21 per share.

All transactions were completed on the open market.

About Crude Carriers Corp.

Crude Carriers Corp. (NYSE: CRU) is a newly formed Marshall Islands corporation focusing on the maritime transportation of crude oil cargoes. The company's common shares trade on The New York Stock Exchange under the symbol "CRU".

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