General Maritime Corporation Announces Proposed Private Placement of $300 Million of Senior Notes Due 2017

General Maritime Corporation Announces Proposed Private Placement of $300
Million of Senior Notes Due 2017

NEW YORK, Oct. 29 /PRNewswire-FirstCall/ -- General Maritime Corporation
("General Maritime" or the "Company") (NYSE: GMR) announced today that it
intends to offer $300 million principal amount of senior unsecured notes due
2017, subject to market and other conditions, in a private placement. The
notes will be offered and sold in the United States only to qualified
institutional buyers pursuant to Rule 144A under the Securities Act of 1933,
as amended (the "Securities Act"), and in offshore transactions to non-United
States persons in reliance on Regulation S under the Securities Act. General
Maritime intends to use the net proceeds of the proposed offering to repay
outstanding borrowings under its bank credit facilities and for other general
corporate purposes.

This press release does not constitute an offer to sell or a solicitation of
an offer to buy any of the notes, and shall not constitute an offer,
solicitation, or sale in any jurisdiction in which such offer, solicitation,
or sale is unlawful. The notes offered will not be registered under the
Securities Act or any state securities laws, and unless so registered, may not
be offered or sold in the United States except pursuant to an applicable
exemption from the registration requirements of the Securities Act and
applicable state laws. This press release is being issued pursuant to and in
accordance with Rule 135c under the Securities Act.

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of
1995
All statements in this press release that are not based on historical fact are
"forward-looking statements." While management has based any forward-looking
statements contained herein on its current expectations, the information on
which such expectations were based may change. These forward-looking
statements rely on a number of assumptions concerning future events and are
subject to a number of risks, uncertainties, and other factors, many of which
are outside of our control that could cause actual results to materially
differ from such statements. Such risks, uncertainties, and other factors
include, but are not necessarily limited to, our ability to access external
sources of capital, uncertainties relating to the occurrence and success of
capital-raising transactions, including securities offerings and bank
financings, and those set forth under the captions "Forward-Looking
Statements" and "Risk Factors" of the latest Form 10-K filed with the SEC as
periodically updated by subsequently filed Forms 10-Q. Unless specifically
required by law, we assume no obligation to update or revise these
forward-looking statements to reflect new events or circumstances.

SOURCE General Maritime Corporation

Jeffrey D. Pribor, Chief Financial Officer, General Maritime Corporation,
+1-212-763-5600