NITC REBRANDS WITH NEW WEBSITE AND LOGO Setting the record straight - MGN News

NITC REBRANDS WITH NEW WEBSITE AND LOGO Setting the record straight

News Release Denzil Stuart Associates July 16, 2010

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<P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 11pt">Independent
tanker operator NITC has today gone live with a new corporate website at <B
style="mso-bidi-font-weight: normal">www.nitc-tankers.com</B>, and has also
unveiled a new corporate logo designed to present a more modern image of the
group, in keeping with its tanker fleet which is one of the youngest in the
industry.<?xml:namespace prefix = o ns =
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<P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 11pt"><o:p> </o:p></SPAN></P>
<P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 11pt">NITC
chairman and managing director Mohammad Souri said: “There have been a lot of
reports in the media recently about NITC and its operations, some of which are
inaccurate and misleading. In a bid to counter this, and demonstrate greater
transparency, we have decided to launch a new English-language website, <B
style="mso-bidi-font-weight: normal">www.nitc-tankers.com</B><o:p></o:p></SPAN></P>
<P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 11pt"><o:p> </o:p></SPAN></P>
<P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 11pt">“Given
the political situation it is unhelpful to have any speculation about our
company circulating in the marketplace, and we hope this website will help
provide our business partners and others with all the factual information they
need. <o:p></o:p></SPAN></P>
<P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 11pt"><o:p> </o:p></SPAN></P>
<P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 11pt">“At
the same time, we are officially introducing our new corporate logo. This is
intended to reinforce the group’s brand - <B
style="mso-bidi-font-weight: normal">NITC</B> - in its own right, and not as the
abbreviation of an earlier name. Such rebranding is a common practice in
international business - for example, BP, ABS, AET etc - and we ask the media in
particular to kindly respect this.<o:p></o:p></SPAN></P>
<P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 11pt"><o:p> </o:p></SPAN></P>
<P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 11pt">“Today,
the NITC brand represents the group’s four core values, which are its commitment
to:<o:p></o:p></SPAN></P>
<P style="MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 11pt"><o:p> </o:p></SPAN></P>
<P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 11pt">•
<B style="mso-bidi-font-weight: normal">N</B>eeds of global oil major
clients<o:p></o:p></SPAN></P>
<P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 11pt">•
<B style="mso-bidi-font-weight: normal">I</B>ntegrity of technical
operations<o:p></o:p></SPAN></P>
<P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 11pt">•
<B style="mso-bidi-font-weight: normal">T</B>otal respect for the
environment<o:p></o:p></SPAN></P>
<P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN
style="LINE-HEIGHT: 150%; FONT-FAMILY: 'Arial','sans-serif'; FONT-SIZE: 11pt">•
<B style="mso-bidi-font-weight: normal">C</B>ontinuous education and welfare of
seafarers.” <SPAN
style="mso-tab-count: 2">              
</SPAN></SPAN><SPAN style="FONT-FAMILY: 'Arial','sans-serif'"><SPAN
style="mso-tab-count: 2">                       
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