Aegean Marine Petroleum Network Inc. Announces Changes to Management Team

PIRAEUS, Greece, June 19 /PRNewswire-FirstCall/ -- Aegean Marine Petroleum
Network Inc. (NYSE: ANW), an international marine fuel logistics company that
markets and physically supplies refined marine fuel and lubricants to ships in
port and at sea, announced today that it has named Spyros Gianniotis as the
Company's new Chief Financial Officer effective September 1, 2008. Mr.
Gianniotis succeeds Ziad Nakhleh, who has decided to pursue other interests.
Mr. Gianniotis, 47, has more than 20 years of finance experience. For the
last seven years, he served as the Assistant General Manager and Head of
Shipping at Piraeus Bank, A.E. where he managed a portfolio of more than $3.5
billion. From 1989 to 2001, Mr. Gianniotis worked for Citibank N.A. in both
New York and Athens and held the position of Vice President, Senior
Relationship Manager.
Peter C. Georgiopoulos, Chairman, commented, "We are delighted Spyros has
agreed to join Aegean as the Company's new chief financial officer. His strong
financial background and business experience will serve as a valuable asset as
we continue to execute our well-capitalized growth plan. I would like to thank
Ziad for his contributions and wish him well in future endeavors. We are
pleased that he will remain with the Company on an interim basis to ensure a
smooth transition."
Mr. Gianniotis received a BA in Economics & Sociology from Queens College
and an MBA in Finance from Wagner College. He also received an MS in
Transportation Management from NY Maritime College in 1985.
About Aegean Marine Petroleum Network Inc.
Aegean Marine Petroleum Network Inc. is an international marine fuel
logistics company that markets and physically supplies refined marine fuel and
lubricants to ships in port and at sea. As a physical supplier, the Company
purchases marine fuel from refineries, major oil producers and other sources.
The Company sells and delivers these fuels to a diverse group of ocean-going
and coastal ship operators and marine fuel traders, brokers and other users
through its service centers in Greece, Gibraltar, Singapore, Jamaica, the
United Arab Emirates, Northern Europe, West Africa and the United Kingdom.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides
safe harbor protections for forward-looking statements in order to encourage
companies to provide prospective information about their business. Forward-
looking statements 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 Company desires to take advantage of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and is including this
cautionary statement in connection with this safe harbor legislation. The
words "believe," "intend," "anticipate," "estimate," "project," "forecast,"
"plan," "potential," "may," "should," "expect" and similar expressions
identify forward-looking statements. 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, our management's
examination of historical operating trends, data contained in our records and
other data available from third parties. Although we believe 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, we cannot
assure you that we will achieve or accomplish these expectations, beliefs or
projections.
In addition to these important factors, other important factors that, in
our view, could cause actual results to differ materially from those discussed
in the forward-looking statements include our ability to manage growth, our
ability to maintain our business in light of our proposed business and
location expansion, our ability to obtain double hull secondhand bunkering
tankers, the outcome of legal, tax or regulatory proceedings to which we may
become a party, adverse conditions in the shipping or the marine fuel supply
industries, our ability to retain our key suppliers and key customers,
material disruptions in the availability or supply of crude oil or refined
petroleum products, changes in the market price of petroleum, including the
volatility of spot pricing, increased levels of competition, compliance or
lack of compliance with various environmental and other applicable laws and
regulations, our ability to collect accounts receivable, changes in the
political, economic or regulatory conditions in the markets in which we
operate, and the world in general, our failure to hedge certain financial
risks associated with our business, our ability to maintain our current tax
treatments and our failure to comply with restrictions in our credit
agreements and other factors. Please see our filings with the Securities and
Exchange Commission for a more complete discussion of these and other risks
and uncertainties.
SOURCE Aegean Marine Petroleum Network Inc.

Aegean Marine Petroleum Network Inc., +1-212-763-5665, investor@ampni.com; or
Investor Relations, Leon Berman, Principal, The IGB Group, +1-212-477-8438