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November 3, 2003

CMA names its next Commodore

The Connecticut Maritime Association has named Peter C. Georgiopoulos as the 2004 recipient of its prestigious Commodore Award.

Georgiopoulos, Chairman and CEO of General Maritime Corporation (NYSE: GMR - News), joins a distinguished list of maritime executives to received the award, given each year to a member of the international maritime community who has demonstrated leadership, vision and commitment to the business.

Donald Frost, President of the Association, commenting on the selection stated, "Mr. Georgiopoulos has provided the international maritime community with enthusiastic leadership since he entered it. Mr. Georgiopoulos and his family have long been involved in the shipping business and Peter's brand of dynamic and visionary leadership epitomize the kind of forward thinking that deserves recognition. The CMA Board felt that he and his company have successfully married the best of Wall Street and the maritime industry. Mr. Georgiopoulos has demonstrated a defining leadership that we feel will effect the way international shipping will be conducted for years ahead. The Association is pleased that Mr. Georgiopoulos will be with us to receive the Award in March."

Georgiopoulos is founder and has served as Chairman, CEO and Director of General Maritime Corporation since its inception in 1997.

From 1991 to 1997, he was the principal of Maritime Equity Management, a shipowning and investment company that he founded in 1991. From 1990 to 1991, he was affiliated with Mallory Jones Lynch, Flynn & Associates, an oil tanker brokerage firm. From 1987 to 1990, he was an investment banker at Drexel Burnham Lambert. Prior to entering the investment banking business, he had extensive experience in the sale, purchase and chartering of vessels while working for shipowners in New York and Piraeus, Greece.

Georgiopoulos is a member of the American Bureau of Shipping and holds an MBA from Dartmouth College.

General Maritime Corporation is a leading provider of international seaborne crude oil transportation services, owning and operating the second largest fleet of mid-sized tankers in the world based on cargo capacity. The company's new fleet is comprised of 46 tankers, (27 Aframax and 19 Suezmax vessels).

General Maritime Corporation, and its commercial and technical management subsidiaries General Maritime Management LLC and United Overseas Tankers Ltd., are noted for their quality operations and strong relationships with major oil companies and charterers. In addition General Maritime Management LLC and it's fleet of managed vessels are Quality Certified to ISO 9000 standards with the American Bureau of Shipping and all vessels are operated under the International Safety Management code.

Georgiopoulos joins an illustrious list of CMA Commodores who include: 2003 recipient Stelios Haji-Ioannou, Chairman, easyGroup and past honorees Frank Tsao, Group Chairman of the IMC Group of companies; Marc Saverys, Managing Director, CMB; Per Heidenreich, President, Heidenreich Marine; Richard du Moulin, Chairman, Marine Transport Lines; William O'Neil, Secretary General, IMO; Gerhard Kurz, President of Mobil Shipping and Transportation; Dr. Helmut Sohmen, Chairman, World Wide Shipping Agency; Gregory Hadjieleftheriadis, President of Eletson Corporation; Philip Loree, Chairman of the Federation of American Controlled Shipping; Jacob Stolt-Nielsen, Chairman Stolt-Neilsen, Inc; George P. Livanos, Ceres Hellenic; and Ole Skaarup, Chairman, Skaarup Shipping Company.

The Award is given each year at the Commodore Gala Dinner concluding the Association's annual Trade Show and Conference. The event takes place next year over the days of March 22, 23 and 24, 2004 at The Westin Hotel in Stamford, Connecticut.

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