STEALTHGAS INC. Announces Deliveries of Two Vessels, the Sale of Three Vessels, New Charter Arrangements and Appointment of New Director to Board

| Source: StealthGas Inc. StealthGas Inc.

ATHENS, GREECE--(Marketwire - November 19, 2007) - STEALTHGAS INC. (NASDAQ: GASS) (the "Company"), a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced the deliveries of the M/V "Gas Sophie" and the M/V "Gas Haralambos," the sale of the M/V "Gas Oracle," the M/V "Gas Renovatio" and the M/V "Gas Nemesis," new chartering arrangements for the M/V "Gas Emperor" and the M/V "Gas Tiny" and the appointment to its Board of Directors of Mr. Lambros Babilis as an Executive Director and Deputy Chairman.

Vessel Deliveries:

The Company announced that it took delivery of the M/V "Gas Sophie" on October 15, 2007 and the M/V "Gas Haralambos" on October 31, 2007, two vessels it had previously contracted to acquire.

The M/V "Gas Sophie" is a 1995 built, 3,500 cbm Fully Pressurized ("F.P.") LPG carrier. Upon its delivery, it was deployed on time charter for 12 months to an international gas trader.

The M/V "Gas Haralambos" is a 2007 built, 7,000 cbm Fully Pressurized ("F.P.") LPG carrier. Upon its delivery, it was deployed on a 2 year time charter to a major international commodity trader.

Vessel Sales:

The Company announced that it has reached an agreement to sell to an unaffiliated entity on an en bloc basis the M/V "Gas Oracle," the M/V "Gas Renovatio" and the M/V "Gas Nemesis." Each of these three vessels will be delivered to the purchaser during January 2008 for an aggregate purchase price of approximately $27.3 million.

New Chartering Arrangements:

The M/V "Gas Tiny" has extended its existing time charter commencing October 2007 for 2 years to an international gas trader.

The M/V "Gas Emperor," upon the expiry of its existing time charter in June 2008, has entered into a new bare boat charter for 4 years to a major international gas operator.

Board Appointment:

The Company also announced that, following the unanimous consent of its Board of Directors, Mr. Lambros Babilis has been elected to the Board of Directors of STEALTHGAS INC. as an Executive Director and will also serve as Deputy Chairman.

CEO Harry Vafias commented, "I am very pleased to announce the appointment of Mr. Babilis to our Board of Directors as an executive director. As an experienced technical manager within Stealth Maritime, he will bring a wealth of technical expertise to our board, an area that had been somewhat lacking in the current make up of our Board of Directors; plus as stated earlier he will serve as our Deputy Chairman, a position that had remained unfilled since our IPO in October 2005. I would like to wish him every success in his new role and look forward to his contributing to the ongoing success of our company."

Commenting on the sales of the three vessels, the first such sales since the Company went public in October 2005, CEO Harry Vafias said, "We have always stated that if opportunities presented themselves to sell some of the older tonnage in our fleet we would take them if they gave attractive returns. Management believes that the sale of these three ships achieves this aim; plus we reduce the average age of our fleet and it gives us further resources to acquire more modern tonnage, which are attractive to our blue chip customer base, and of course are more cost efficient to operate."

Fleet Profile and Fleet Deployment:

The table below show the Company's fleet development and deployment as of today: 

                                                                  Charter
           Vessel Size  Vessel    Year   Delivered  Employment   Expiration
Vessel       (cbm)       Type     Built   To GASS    Status         (1)
           ----------- --------- ------- --------- ------------ -----------
CURRENT FLEET
           ----------------------------------------------------------------
Gas Cathar       7,517      F.P.    2001    Oct-05 Time Charter      Aug-08
           ----------- --------- ------- --------- ------------ -----------
Gas
Haralambos       7,000      F.P.    2007    Oct-07 Time Charter      Oct-09
           ----------- --------- ------- --------- ------------ -----------
Gas
Marathon         6,572      F.P.    1995    Nov-05     Bareboat      Oct-09
           ----------- --------- ------- --------- ------------ -----------
Gas Chios        6,562      F.P.    1991    Oct-05 Time Charter      Mar-08
           ----------- --------- ------- --------- ------------ -----------
Gas Amazon       6,526      F.P.    1992    May-05 Time Charter      Nov-08
           ----------- --------- ------- --------- ------------ -----------
Gas
Flawless         6,300      F.P.    2007    Feb-07 Time Charter      Feb-09
           ----------- --------- ------- --------- ------------ -----------
Gas
Monarch          5,018      F.P.    1997    Dec-05     Bareboat      Jun-10
           ----------- --------- ------- --------- ------------ -----------
Gas
Nemesis
(2) (25)         5,016      F.P.    1995    Jun-06 Time Charter      May-09
           ----------- --------- ------- --------- ------------ -----------
Lyne (3)         5,014      F.P.    1996    May-06     Bareboat      May-09
           ----------- --------- ------- --------- ------------ -----------
Gas
Emperor (4)      5,013      F.P.    1995    Feb-05 Time Charter      Jun-08
           ----------- --------- ------- --------- ------------ -----------
Birgit
Kosan            5,012      F.P.    1995    Apr-05     Bareboat      Oct-11
           ----------- --------- ------- --------- ------------ -----------
Catterick
(5)              5,001       F.P    1995    Nov-05 Time Charter      Jan-09
           ----------- --------- ------- --------- ------------ -----------
Sir Ivor
(6)              5,000      F.P.    2003    May-06     Bareboat      May-09
           ----------- --------- ------- --------- ------------ -----------
Gas Icon
(7)              5,000      F.P.    1994    Jun-07 Time Charter      Jul-10
           ----------- --------- ------- --------- ------------ -----------
Gas
Kalogeros
(8)              5,000      F.P.    2007    Jul-07 Time Charter      Apr-10
           ----------- --------- ------- --------- ------------ -----------
Gas
Sincerity
(9)              4,123      F.P.    2000    Nov-05 Time Charter      Jul-09
           ----------- --------- ------- --------- ------------ -----------
Gas Spirit
(10)             4,112      F.P.    2001    Dec-05 Time Charter      Jun-10
           ----------- --------- ------- --------- ------------ -----------
Gas Zael
(11)             4,111      F.P.    2001    Dec-05 Time Charter      Mar-09
           ----------- --------- ------- --------- ------------ -----------
Gas
Courchevel       4,109      S.R.    1991    Nov-04         Spot           -
           ----------- --------- ------- --------- ------------ -----------
Gas
Prophet
(12)             3,556      F.P.    1996    Oct-04     Bareboat      Sep-09
           ----------- --------- ------- --------- ------------ -----------
Gas
Shanghai
(13)             3,526      F.P.    1999    Dec-04 Time Charter      Sep-09
           ----------- --------- ------- --------- ------------ -----------
Sea Bird II      3,518      F.P.    1996    May-07     Bareboat      May-09
           ----------- --------- ------- --------- ------------ -----------
Gas
Evoluzione       3,517      F.P.    1996    Jul-07 Time Charter      Aug-08
           ----------- --------- ------- --------- ------------ -----------
Gas Czar
(14)             3,510      F.P.    1995    Feb-06 Time Charter      Dec-08
           ----------- --------- ------- --------- ------------ -----------
Gas Sophie       3,500      F.P.    1995    Oct-07 Time Charter      Oct-08
           ----------- --------- ------- --------- ------------ -----------
Gas Legacy
(15)             3,500      F.P.    1998    Oct-05 Time Charter      Apr-10
           ----------- --------- ------- --------- ------------ -----------
Gas
Fortune
(16)             3,500      F.P.    1995    Feb-06 Time Charter      Dec-08
           ----------- --------- ------- --------- ------------ -----------
Gas
Eternity
(17)             3,500      F.P.    1998    Mar-06     Bareboat      Apr-10
           ----------- --------- ------- --------- ------------ -----------
Gas
Sikousis
(18)             3,500      F.P.    2006    Aug-07 Time Charter      May-09
           ----------- --------- ------- --------- ------------ -----------
Gas Artic        3,434      S.R.    1992    Apr-05     Bareboat      Apr-09
           ----------- --------- ------- --------- ------------ -----------
Gas Ice
(19)             3,434      S.R.    1991    Apr-05     Bareboat      Apr-11
           ----------- --------- ------- --------- ------------ -----------
Gas
Renovatio
(20) (24)        3,313      F.P.    1997    May-07 Time Charter      Jan-09
           ----------- --------- ------- --------- ------------ -----------
Chiltern         3,312      F.P.    1997    Jun-07     Bareboat      Mar-08
           ----------- --------- ------- --------- ------------ -----------
Batangas         3,244      F.P.    1995    Jun-06     Bareboat      Jul-08
           ----------- --------- ------- --------- ------------ -----------
Gas
Crystal          3,211      S.R.    1990    Nov-05 Time Charter      Jul-08
           ----------- --------- ------- --------- ------------ -----------
Gas Oracle
(23)             3,014      F.P.    1990    Dec-05 Time Charter      Dec-07
           ----------- --------- ------- --------- ------------ -----------
Gas
Prodigy
(21)             3,014      F.P.    1995    Oct-05 Time Charter      Dec-08
           ----------- --------- ------- --------- ------------ -----------
Gas Tiny         1,320      S.R.    1991    Oct-04 Time Charter      Oct-09
           ----------- --------- ------- --------- ------------ -----------
FLEET TOTAL    164,429
38 VESSELS         Cbm
           ----------- --------- ------- --------- ------------ -----------
Additional Vessels (with expected delivery date)
Gas
Premiership
(22)             7,200      F.P.    2001    Feb-08 Time Charter      Feb-12
           ----------- --------- ------- --------- ------------ -----------
FLEET TOTAL    171,629
39 VESSELS         cbm
           ----------- --------- ------- --------- ------------ -----------

--  F.P.: Fully-Pressurized
--  S.R.: Semi-Refrigerated

(1)  Earliest date charters could expire.  Most charters include
     options to shorten or extend their term.
(2)  Gas Nemesis is currently employed under a time charter
     until May 2008. Thereafter, she will be employed under a
     new time charter until May 2009.
(3)  Lyne is employed under a bareboat charter until May 2009.
     Thereafter, at the charterer's option, the bareboat charter can
     be extended for an additional year.
(4)  Gas Emperor is currently employed under a time charter until
     June 2008. Thereafter she will be employed under a new 4 year
     time charter to a major international gas operator until June 2012.
(5)  Catterick is currently employed under a time charter with an
     initial term expiring in January 2008, which has been extended to
     January 2009.
(6)  Sir Ivor is employed under a bareboat charter until May 2009.
     Thereafter, at the charter's option, the bareboat charter can
     be extended for an additional year.
(7)  Gas Icon is currently employed under a time charter with an initial
     term expiring in July 2008, which has been extended for two years
     until July 2010.
(8)  Gas Kalogeros is currently employed under a time charter until
     May 2008, which has been extended to April 2010.
(9)  Gas Sincerity is currently employed under a time charter until
     July 2008, which has been extended to July 2009.
(10) Gas Spirit is currently employed under a time charter until June
     2008, which has been extended to June 2010.
(11) Gas Zael is currently employed under a time charter until March
     2008, which has been extended to March 2009.
(12) Gas Prophet has for the three year duration of bareboat charter
     been renamed the M.T. Ming Long.
(13) Gas Shanghai is currently employed under a time charter until
     September 2008, which has been extended until September 2009.
(14) Gas Czar is currently employed under a time charter until December
     2007. Thereafter, she will be employed under a new time charter until
     December 2008.
(15) Gas Legacy is currently employed under a time charter until April
     2008, which has been extended for two years until April 2010.
(16) Gas Fortune is currently employed under a time charter expiring
     in December 2007, which has been extended until December 2008.
(17) Gas Eternity has for the duration of bareboat charter been
     renamed the M.T. Yu Tian 9.
(18) Gas Sikousis is currently employed under a time charter until
     May 2009. Thereafter, at the charterer's option, the time charter can
     be extended for two one-year periods, the first one to be
     negotiated in May 2009.
(19) Gas Ice is currently employed under a bareboat charter until April
     2008. Thereafter, she will be employed under a new three year bareboat
     charter, until April 2011.
(20) Gas Renovatio is currently employed under a time charter until
     January 2008, which has been extended for twelve months until
     January 2009.
(21) Gas Prodigy is currently employed under a time charter expiring in
     December 2007, which has been extended until December 2008.
(22) Gas Premiership will commence a four year charter upon expected
     delivery in February 2008 expiring in February 2012.
(23) Gas Oracle is contracted to be sold for delivery during January 2008.
(24) Gas Renovatio is contracted to be sold for delivery with her current
     charter attached during January 2008.
(25) Gas Nemesis is contracted to be sold for delivery with her current
     charter attached during January 2008.

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 38 LPG carriers with a total capacity of 164,429 cubic meters (cbm). In addition, the company has also entered into agreements to acquire one second-hand LPG carrier with expected delivery in February 2008 and sell three vessels in January 2008. Once the acquisition and sale of vessels are complete, STEALTHGAS INC.'s fleet will be composed of 36 LPG carriers with a total capacity of 160,286 cubic meters (cbm). STEALTHGAS INC.'s shares are listed on the NASDAQ Global Select Market 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 US 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

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