TBS International Limited Announces the Acquisition of a Handymax Bulk Carrier Expanding Its Fleet to 46 Vessels

HAMILTON, BERMUDA–(MARKET WIRE)–Jun 23, 2008 — TBS International Limited (NasdaqGS:TBSI – News) announced that it has entered into an agreement to acquire the M.V. Ken Blossom (to be renamed), a 38,852 dwt, 1992 built handymax bulk carrier. TBS has agreed to acquire this vessel for a purchase price of $44.0 million charter free with expected delivery during the third quarter of 2008.