INVITATION TO THE ANNUAL GENERAL MEETING OF SHAREHOLDERS

The shareholders of Blue Star Maritime S.A., are invited to the Annual General Meeting of Shareholders on Thursday 14th June, 2007, at 09:00 hrs at Divani Apollon Palace Hotel, 10 Agiou Nikolaou and Heliou Str., Vouliagmeni, Greece.

AGENDA

• Submission and approval of the annual financial accounts, and approval of the reports of the Board of Directors and the Certified Auditors for the year 2006.
• Discharge of the members of the Board of Directors and the Certified Auditors from any responsibility for the year 2006.
• Approval of the distribution of profits for the year 2006.
• Approval of the Directors’ fees.
• Appointment of Certified Auditors for the year 2007 and determination of their remuneration.

The Shareholders who wish to attend the Annual General Meeting of Shareholders are requested to pledge all or part of their shares with their stockbroker or with the Central Security Depository and submit the deposit receipt and any documents of representation to Blue Star Maritime S.A., 157 C. Karamanli Avenue, Voula, not less than five (5) days from the day of the Annual General Meeting.