SOURCE: Star Maritime Acquisition Corporation

April 10, 2006 08:45 ET

Star Maritime Acquisition Corporation Announces Its Addition to the Russel 3000 Index

NEW YORK, NY -- (MARKET WIRE) -- April 10, 2006 -- Star Maritime Acquisition Corporation (the "Company") (AMEX: SEA) (AMEX: SEAWS) today announced that effective March 31, 2006, the company was included among the stocks in the Russell 3000 Index.

The Russell 3000 Index is composed of 3,000 of the largest US companies as determined by market capitalization and represents approximately 98% of the investable US equity market. The Russell 3000 Index is comprised of stocks within the Russell 1000 and Russell 2000 Indices and it is widely utilized as performance benchmark by investors.

Akis Tsirigakis, the CEO of Star Maritime, commented: "We are very happy to announce our company's addition to the Russel 3000 Index effective March 31, 2006. We believe that being part of the Russell 3000 Index will improve the visibility of our company among investors with tangible benefits for our shareholders."

About Star Maritime

Star Maritime Acquisition Corporation is a blank check company recently formed for the purpose of effecting a merger, capital stock exchange, asset acquisition or other business combination with an operating business in the shipping industry.

Forward-Looking Statement

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined by the United States Private Securities Litigation Reform Act of 1995. Any such forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations such as material adverse events affecting the Company, the ability of the Company to satisfy the conditions to completion of the business combination and those other risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission.

Contact Information

  • For Further Information please contact:
    Star Maritime Acquisition Corp.
    Prokopios (Akis) Tsirigakis
    Chairman and Chief Executive Officer
    c/o Schwartz & Weiss, P.C.
    457 Madison Avenue
    New York, NY 10022
    Tel. 212-752-3100

    Investor Relations/Financial Media:
    Capital Link, Inc.
    Nicolas Bornozis
    230 Park Avenue
    Suite 1536
    New York, NY 10169
    Tel. (212) 661-7566