Aries Maritime Transport Limited Announces Sale of Two Container Vessels and Provides Dividend Update

Aries Maritime Transport Limited today announced it has reached an agreement to sell both the Energy 1, a 1989-built container vessel, and its sister ship, the MSC Oslo, to an unrelated third party for a net price totaling approximately $40 million. The Company expects to finalize the sale with the delivery of the vessels during the second quarter of 2008.