Vessel Delivered Charter
Size Vessel Year To Employment Expiration
Vessel (cbm) Type Built Company Status (1)
-------- ------ ------ --------- ---------- ----------
CURRENT FLEET
Time
Gas Cathar (2) 7,517 F.P. 2001 Oct-05 Charter Aug-08
-------- ------ ------ --------- ---------- ----------
Gas Marathon (3) 6,572 F.P. 1995 Nov-05 Bareboat Oct-09
-------- ------ ------ --------- ---------- ----------
Time
Gas Chios 6,562 F.P. 1991 Oct-05 Charter Mar-08
-------- ------ ------ --------- ---------- ----------
Time
Gas Amazon (4) 6,526 F.P. 1992 May-05 Charter Nov-08
-------- ------ ------ --------- ---------- ----------
Time
Gas Flawless 6,300 F.P. 2007 Feb-07 Charter Feb-09
-------- ------ ------ --------- ---------- ----------
Time
Gas Monarch 5,018 F.P. 1997 Dec-05 Charter Jun-10
-------- ------ ------ --------- ---------- ----------
Time
Gas Nemesis 5,016 F.P. 1995 Jun-06 Charter May-08
-------- ------ ------ --------- ---------- ----------
Lyne (5) 5,014 F.P. 1996 May-06 Bareboat May-09
-------- ------ ------ --------- ---------- ----------
Time
Gas Emperor 5,013 F.P. 1995 Feb-05 Charter Jun-08
-------- ------ ------ --------- ---------- ----------
Birgit Kosan (6) 5,012 F.P. 1995 Apr-05 Bareboat Oct-11
-------- ------ ------ --------- ---------- ----------
Time
Catterick 5,001 F.P 1995 Nov-05 Charter Jan-08
-------- ------ ------ --------- ---------- ----------
Sir Ivor (7) 5,000 F.P. 2003 May-06 Bareboat May-09
-------- ------ ------ --------- ---------- ----------
Time
Gas Icon 5,000 F.P. 1994 Jun-07 Charter Jul-08
-------- ------ ------ --------- ---------- ----------
Time
Gas Sincerity (8) 4,123 F.P. 2000 Nov-05 Charter Jul-08
-------- ------ ------ --------- ---------- ----------
Time
Gas Spirit 4,112 F.P. 2001 Dec-05 Charter Jun-08
-------- ------ ------ --------- ---------- ----------
Time
Gas Zael 4,111 F.P. 2001 Dec-05 Charter Mar-08
-------- ------ ------ --------- ---------- ----------
Gas Courchevel 4,109 S.R. 1991 Nov-04 Spot -
-------- ------ ------ --------- ---------- ----------
Gas Prophet (9) 3,556 F.P. 1996 Oct-04 Bareboat Sep-09
-------- ------ ------ --------- ---------- ----------
Time
Gas Shanghai (10) 3,526 F.P. 1999 Dec-04 Charter Sep-08
-------- ------ ------ --------- ---------- ----------
Sea Bird II 3,518 F.P. 1996 May-07 Bareboat May-09
-------- ------ ------ --------- ---------- ----------
Time
Gas Czar 3,510 F.P. 1995 Feb-06 Charter Nov-07
-------- ------ ------ --------- ---------- ----------
Time
Gas Legacy 3,500 F.P. 1998 Oct-05 Charter Apr-08
-------- ------ ------ --------- ---------- ----------
Time
Gas Fortune 3,500 F.P. 1995 Feb-06 Charter Dec-07
-------- ------ ------ --------- ---------- ----------
Gas Eternity (11) 3,500 F.P. 1998 Mar-06 Bareboat Apr-10
-------- ------ ------ --------- ---------- ----------
Gas Artic 3,434 S.R. 1992 Apr-05 Bareboat Apr-09
-------- ------ ------ --------- ---------- ----------
Gas Ice 3,434 S.R. 1991 Apr-05 Bareboat Apr-08
-------- ------ ------ --------- ---------- ----------
Time
Gas Renovatio 3,313 F.P. 1997 May-07 Charter Jan-08
-------- ------ ------ --------- ---------- ----------
Chiltern 3,312 F.P. 1997 Jun-07 Bareboat May-08
-------- ------ ------ --------- ---------- ----------
Batangas 3,244 F.P. 1995 Jun-06 Bareboat Jul-08
-------- ------ ------ --------- ---------- ----------
Time
Gas Crystal 3,211 S.R. 1990 Nov-05 Charter Jul-08
-------- ------ ------ --------- ---------- ----------
Time
Gas Oracle 3,014 F.P. 1990 Dec-05 Charter Dec-07
-------- ------ ------ --------- ---------- ----------
Time
Gas Prodigy 3,014 F.P. 1995 Oct-05 Charter Dec-07
-------- ------ ------ --------- ---------- ----------
Time
Gas Tiny 1,320 S.R. 1991 Oct-04 Charter Jan-09
-------- ------ ------ --------- ---------- ----------
FLEET TOTAL 141,912
33 VESSELS cbm
-------- ------ ------ --------- ---------- ----------
Additional Vessels (with expected delivery date)
------------------------------------------------------
Time
Gas Haralambos 7,000 F.P. Oct-07 Oct-07 Charter(12) Oct-09
-------- ------ ------ --------- ---------- ----------
Time
Gas Kalogeros 5,000 F.P. Jul-07 Jul-07 Charter(12) May-08
-------- ------ ------ --------- ---------- ----------
Time
Gas Evoluzione 3,517 F.P. 1996 Jul-07 Charter(12) Jul-08
-------- ------ ------ --------- ---------- ----------
Time
Gas Sikousis (13) 3,500 F.P. 2006 Jul-07 Charter(12) May-08
-------- ------ ------ --------- ---------- ----------
Gas Sophie 3,500 F.P. 1995 Oct-07 - -
-------- ------ ------ --------- ---------- ----------
FLEET TOTAL 164,429
38 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 Cathar is currently employed under a time charter with an
initial term expiring in August 2007, which has been extended to
August 2008.
- (3) Gas Marathon is currently employed under a bareboat charter with
an initial term expiring in October 2007. Thereafter she will be
re-employed on a bareboat charter October 2009.
- (4) Gas Amazon is currently employed under a time charter with an
initial term expiring in November 2007, which has been extended to
November 2008.
- (5) Lyne is employed under a bareboat charter until May 2009.
Thereafter, at the charterer's option, the bareboat charter can be
extended for a an additional year.
- (6) Birgit Kosan is currently employed under a bareboat charter until
October 2007. Thereafter she will be re-employed on a bareboat charter
until September 2011.
- (7) 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.
- (8) Gas Sincerity is currently employed under a time charter until
July 2007. Thereafter she will be re-employed for an additional one
year time charter.
- (9) Gas Prophet has for the three year duration of bareboat charter
been renamed the M.T. Ming Long.
- (10) Gas Shanghai is currently employed under a time charter with an
initial term expiring in September 2007, which has been extended to
September 2008.
- (11) Gas Eternity has for the duration of bareboat charter been renamed
the M.T. Yu Tian 9.
- (12) Charter will commence upon delivery of vessel to us.
- (13) Gas Sikousis will, upon its delivery to us, be employed under time
charter until May 2008 as indicated in the above table. Thereafter, at
the charterer's option, the time charter can be extended for an
additional year.
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 33 LPG carriers
with a total capacity of 141,912 cubic meters (cbm). In addition, the
company has agreed to acquire two newbuilding LPG carriers expected to be
delivered to STEALTHGAS INC. in July and October 2007, respectively. It has
also entered into agreements to acquire three additional second-hand LPG
carriers with expected delivery between July and October 2007. Once these
acquisitions are complete, STEALTHGAS INC.'s fleet will be composed of 38
LPG carriers with a total capacity of 164,429 cubic meters (cbm).
STEALTHGAS Inc.'s shares are listed on NASDAQ 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