Blue Star Maritime S.A., according to article 279 of ASE regulation, announces that the Annual General Meeting of Shareholders, held on May 17, 2006, approved the distribution of Euro 0.07 per share, as dividend for the year 2005. Entitled to the dividend are the shareholders at the end of the Stock Exchange's trading session on 29/06/2006. Effective Friday 30/06/2006, shares will be trading ex-dividend. The payment of the dividend shall begin on Monday 10/07/2006 through a financial institution which will be announced in due time.