RAMS Aries Maritime Transport Limited - Common Shares (MM)

ATHENS, Greece, May 13 /PRNewswire-FirstCall/ -- Aries Maritime Transport Limited (NASDAQ:RAMS) today announced the Company's Board of Directors has declared a $0.10 per share dividend for the three-month period ended March 31, 2008. The dividend is payable on May 30, 2008 to shareholders of record on May 23, 2008. Mons S. Bolin, President and Chief Executive Officer, commented, "We are pleased to resume the distribution of a quarterly dividend for the first quarter of 2008, as planned." Aries' policy is to pay a quarterly dividend in March, May, August and November of each year. The payment of dividends is at the discretion of the Board. About Aries Maritime Transport Limited Aries Maritime Transport Limited is an international shipping company that owns and operates products tankers and container vessels. All of the Company's products tanker vessels are double-hulled with an average age of 7.4 years, which excludes the Arius. Upon completing the sale of the Arius, the Company's products tanker fleet will consist of five MR tankers and four Panamax tankers. The Company also owns a fleet of three container vessels, which excludes the Energy 1 and the MSC Oslo, that have an average age of 18.5 years and range in capacity from 1,799 to 2,917 TEU. Currently, 11 of the Company's 15 vessels have period charter coverage. Charters for 30% of the Company's products tanker fleet currently have profit sharing components. "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This press release includes assumptions, expectations, projections, intentions and beliefs about future events. These statements are intended as "forward-looking statements." We caution that assumptions, expectations, projections, intentions and beliefs about future events may and often do vary from actual results and the differences can be material. All statements in this document that are not statements of historical fact are forward-looking statements. Forward-looking statements include, but are not limited to, such matters as future operating or financial results; statements about planned, pending or recent acquisitions, business strategy, future dividend payments and expected capital spending or operating expenses, including drydocking and insurance costs; statements about trends in the container vessel and products tanker shipping markets, including charter rates and factors affecting supply and demand; our ability to obtain additional financing; expectations regarding the availability of vessel acquisitions; and anticipated developments with respect to pending litigation. The forward-looking statements in this press 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 Aries Maritime Transport Limited 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, Aries Maritime Transport Limited cannot assure you that it will achieve or accomplish these expectations, beliefs or projections described in the forward looking statements contained in this press release. 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 charter rates and vessel values, failure of a seller to deliver one or more vessels, failure of a buyer to accept delivery of a vessel, inability to procure acquisition financing, default by one or more charterers of our ships, changes in demand for oil and oil products, the effect of changes in OPEC's petroleum production levels, worldwide oil consumption and storage, changes in demand that may affect attitudes of time charterers, scheduled and unscheduled drydocking, changes in Aries Maritime Transport Limited's voyage and operating expenses, including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations 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, international hostilities and political events or acts by terrorists and other factors discussed in Aries Maritime Transport Limited's filings with the U.S. Securities and Exchange Commission from time to time. When used in this document, the words "anticipate," "estimate," "project," "forecast," "plan," "potential," "will," "may," "should," and "expect" reflect forward-looking statements. Company Contacts: Company Contact: Investor and Media Contact: Richard J.H. Coxall Michael Cimini Chief Financial Officer Vice President Aries Maritime Transport Limited The IGB Group +30-210-898-3787 +1-212-477-8261 DATASOURCE: Aries Maritime Transport Ltd CONTACT: Company Contact: Richard J.H. Coxall, Chief Financial Officer, Aries Maritime Transport Limited, +30-210-898-3787; Investor and Media Contact: Michael Cimini, Vice President, The IGB Group, +1-212-477-8261

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