TEN Files Shelf Registration With the SEC

Tsakos Energy Navigation Ltd. (TEN) announced that it filed a $300 million universal shelf registration statement with the U.S. Securities and Exchange Commission (SEC) on May 18, 2006, replacing a prior shelf registration filed in 2003. The filing will allow TEN to offer, from time to time and as corporate needs dictate, any combination of senior and subordinated debt securities, convertible securities, common shares, preferred shares, warrants and depository shares. TEN currently has ample liquidity and no immediate plans to access the capital markets. This shelf registration will provide TEN with financing flexibility as it continues to invest in its business and explore various opportunities for the long-term benefit of all shareholders.