Blue Star Maritime S.A., announces that an agreement was signed with SEA JET II Shipping Company, for the sale on credit of m/v Catamaran Seajet 2.

The agreed sale price is Euro 2,950,000. The profit from this sale is estimated at approximately Euro 1 million. Part of the sale price will be paid on vessel's delivery while the credited amount of Euro 2.550.000 will be paid in monthly installments until September 2006.

The delivery of the vessel is expected to be take place within March 2006.

The sale of the vessel is part of the Company's policy to focus on the operation of fast, modern conventional ro-pax vessels.