Quintana Maritime (NASDAQ: QMAR) based in Greece, is an international provider of dry bulk cargo marine transportation services. Quintana currently owns a fleet of 22 vessels and, together with 7 Panamax vessels under bareboat charters, operates 29 vessels (14 Kamsarmax, 11 Panamax and 4 Capesize vessels) with a total carrying capacity of 2.6 million DWT tons. The DWT weighted average age of vessels Quintana owns is 3.3 years.

In addition, Quintana has ordered 8 Capesize newbuilding vessels, one of which will be wholly owned and the remaining seven of which will be partially owned through joint ventures.

Once all acquisitions and newbuilding orders are completed and assuming no vessel disposals, Quintana will operate a fleet of 37 dry bulk vessels (14 Kamsarmax, 11 Panamax and 12 Capesize vessels) with a total capacity of 4.1 million DWT.

On January 29, 2008, Excel Maritime Carriers (NYSE:EXM) agreed to acquire Quintana Maritime pursuant to a definitive merger agreement whereby Quintana would become a wholly owned subsidiary of Excel Maritime.

The combined company will operate a fleet of 47 vessels with a total carrying capacity of 3.7 million DWT. the size of the fleet is expected to increase to 55 vessels with a total carrying capacity of 5.2 million DWT after the addition of 8 Capesize vessels which are expected to be delivered by the end of 2010.

For more information please visit our website: www.quintanamaritime.com.