Aries Maritime Transport Limited Announces Effective December 21, 2009 Company Will Be Renamed ‘NewLead Holdings Ltd.’ and Will Trade Under the Symbol ‘NEWL’

December 7, 2009

ATHENS, Greece, Dec. 7 /PRNewswire-FirstCall/ — Aries Maritime Transport Limited (Nasdaq: RAMS) (the “Company”) today announced that, effective December 21, 2009, the Company will be renamed “NewLead Holdings Ltd.” The Company’s common shares, listed on the NASDAQ Global Market under the symbol “RAMS,” will trade under the new symbol, “NEWL,” upon commencement of trading on December 21, 2009.

To commemorate the name and ticker change, NewLead’s Management team will be ringing the NASDAQ Closing Bell on December 21, 2009.

“We look forward to ringing the closing bell at the NASDAQ, commemorating Aries’ name change to NewLead. This name change symbolizes a new beginning for the firm,” said Mr. Nicholas G. Fistes, Chairman.

“We believe that the NewLead name will, over time, become synonymous with prudent management, operational excellence, accretive growth and financial transparency. We will strive to be an industry leader,” said Mr. Michail S. Zolotas, President and Chief Executive Officer.

To view the closing bell ceremony live, please visit http://www.nasdaq.com/about/marketsitetowervideo.asx at 3:50 p.m. Eastern on December 21, 2009. An archive of the closing bell ceremony is available after December 21, 2009 at http://www.nasdaq.com/marketsite/marketsite_events.stm.

Aries also announced today the results of the Special General Meeting of Shareholders (the “SGM”) held on Friday, December 4, 2009. With 68.62% of Aries’ common shares represented in person or by proxy, the following two proposals were approved and adopted at the meeting:

  • A change of the Company’s name to “NewLead Holdings Ltd.”
  • An amendment to the bye-laws of the Company to provide for written resolutions to be approved by a majority of the shareholders rather than unanimously.

About Aries Maritime Transport Limited

Aries Maritime Transport Limited is an international shipping company that owns and operates product tanker, container and dry bulk vessels. The Company’s products tanker fleet consists of five MR tankers and four Panamax tankers, all of which are double-hulled. The Company also owns a fleet of two container vessels in capacity of 2,917 TEU each and three dry bulk vessels secured on period charters.

“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, as well as words such as “anticipate,” “estimate,” “project,” “plan,” and “expect,” are intended to be ”forward-looking” statements. We caution that assumptions, expectations, projections, intentions and beliefs about future events may vary from actual results and the differences can be material. Forward-looking statements include, but are not limited to, such matters as future operating or financial results; statements about planned, pending or recent acquisitions and business strategy. 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 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 cannot assure you that it will achieve or accomplish these expectations, beliefs or projections described in the forward looking statements. 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, and other factors discussed in Aries’ filings with the U.S. Securities and Exchange Commission from time to time. Aries expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Aries’ expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Investor and Media Contact:
Laura A. Kowalcyk, Account Supervisor
CJP Communications
(212) 279 3115

SOURCE Aries Maritime Transport Limited

Source: newswire

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