The Board of Directors of Blue Star Maritime S.A. convened on 13.02.2008 and accepted the resignation of Executive Board Members, Mr Pericles Panagopoulos and Alexander Panagopoulos and Independent, Non-Executive Board Member Mr Emmanuel Kalpadakis and replaced them with Mr Petros Vettas, Yannis Criticos and Alexander Edipidis.

In the same session, the Board proceeded in the assignment of offices and responsibilities to its Members as follows:

- Charalambos S. Paschalis Chairman, Non-Executive Member

- Michael G. Gialouris Vice-Chairman, Executive Member

- Michael G. Sakellis Managing Director, Executive Member

- Spiros Ch. Paschalis Authorized Director, Executive Member

- Petros M. Vettas Director, Executive Member

- Yannis B. Criticos Director, Executive Member

- Antony D. Stintzis Director, Executive Member

- George N. Karistinos, Director, Independent, Non-Executive Member

- Alexander Th. Edipidis Director, Independent, Non-Executive Member