General Maritime Corporation Announces $294.5 Million Sale of Ten Single-Hull and Double-Sided Vessels

19 October 2005

General Maritime Corporation
(NYSE: GMR) today announced that it has agreed to sell ten single-hull and
double-sided Suezmax vessels en bloc to Tanker Pacific for $294.5 million.
The Company expects to realize a net gain of $109 million from the sale of
these ten vessels. The company intends to utilize the proceeds to pay down
debt and therefore the proceeds will be excluded in the calculation of the
dividend for the applicable quarters. The delivery of the vessels is expected
to take place between November 2005 and January 2006.
Peter C. Georgiopoulos, Chairman, Chief Executive Officer and President,
stated, "Consistent with General Maritime's strategy of modernizing its fleet,
we have entered into this opportunistic transaction that will enable the
Company to further unlock shareholder value. In addition to selling the
vessels at an extremely favorable price and earning an approximately 80%
annualized return on our initial investment, the transaction improves the
fleet's age profile, increases the percentage of double-hull vessels and
further strengthens our balance sheet. With significant financial strength and
flexibility, General Maritime is well positioned to build upon its past
success and continue to seek opportunities to create enduring value for
shareholders."
The vessel sales include four single-hull and six double-sided vessels
with an average age of approximately 15.5 years. Following the completion of
the sale and including the four Suezmax newbuildings to be delivered between
2006 and 2008, the average age of General Maritime's fleet will be reduced to
ten years and its percentage of double-hull vessels will be increased to 81%.
As previously announced, General Maritime will host a conference call on
October 27, 2005 at 8:30 a.m. eastern daylight time to discuss its results for
the third quarter of 2005. The Company expects to announce its third quarter
dividend with the announcement of its third quarter results.

Vessels to be sold
Vessel Hull Built
Genmar Spartiate SH September 1991
Genmar Zoe SH May 1991
Genmar Macedon SH June 1990
Genmar Alta SH March 1990
Genmar Conqueror DS February 1993
Genmar Honour DS June 1992
Genmar Ariston DS January 1989
Genmar Prometheus DS January 1988
Genmar Kestrel DS January 1988
Genmar Sky DS January 1988

About General Maritime Corporation
General Maritime Corporation is a provider of international seaborne crude
oil transportation services principally within the Atlantic basin which
includes ports in the Caribbean, South and Central America, the United States,
West Africa, the Mediterranean, Europe and the North Sea. We also currently
operate tankers in other regions including the Black Sea and Far East.
General Maritime Corporation currently owns and operates a fleet of 47 tankers
-- 26 Aframax, 17 Suezmax tankers and 4 Suezmax newbuilding contracts with a
carrying capacity of approximately 5.6 million dwt. Following the completion
of the 10 vessel sale, General Maritime will own and operate a fleet of 37
tankers -- 26 Aframax, 7 Suezmax tankers, and four Suezmax newbuildings.

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act
of 1995
This press release contains forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are based on management's current
expectations and observations. Included among the factors that, in the
company's view, could cause actual results to differ materially from the
forward looking statements contained in this press release are the following:
changes in demand; a material decline or prolonged weakness in rates in the
tanker market; changes in production of or demand for oil and petroleum
products, generally or in particular regions; greater than anticipated levels
of tanker newbuilding orders or lower than anticipated rates of tanker
scrapping; changes in rules and regulations applicable to the tanker industry,
including, without limitation, legislation adopted by international
organizations such as the International Maritime Organization and the European
Union or by individual countries; actions taken by regulatory authorities;
changes in trading patterns significantly impacting overall tanker tonnage
requirements; changes in the typical seasonal variations in tanker charter
rates; changes in the cost of other modes of oil transportation; changes in
oil transportation technology; increases in costs including without
limitation: crew wages, insurance, provisions, repairs and maintenance;
changes in general domestic and international political conditions; changes in
the condition of the company's vessels or applicable maintenance or regulatory
standards (which may affect, among other things, the company's anticipated
drydocking or maintenance and repair costs); and other factors listed from
time to time in the Company's filings with the Securities and Exchange
Commission, including, without limitation, its Annual Report on Form 10-K for
the year ended December 31, 2004 and its subsequent reports on Form 10-Q and
Form 8-K. The Company's ability to pay dividends in any period will depend
upon factors including limitations under the indenture for the Company's
senior notes, applicable provisions of Marshall Islands law and the final
determination by the Board of Directors each quarter after its review of the
Company's financial performance. The timing and amount of dividends, if any,
could also be affected by factors affecting cash flows, results of operations,
required capital expenditures, or reserves. As a result, the amount of
dividends actually paid may vary from the amounts currently estimated. The
closing of the vessel sales will be subject to customary closing conditions.