Nordic American Tankers Ltd. ("NAT") Completes Acquisition of

Nordic American Tankers Ltd. ("NAT") Completes Acquisition of Scandic
American Shipping Ltd., the Business Manager of NAT 
HAMILTON, BERMUDA -- (Marketwire) -- 01/11/13 --  On December 17,
2012 NAT (NYSE: NAT) announced that it had acquired 100% of the
shares of Scandic American Shipping Ltd. ("Scandic"), its management
company since 2004. This transaction has now been completed. The
Company acquired Scandic from a company controlled by Herbjorn
Hansson, NAT's Chairman and CEO, and his closest family. As part of
the consideration payable to the seller, the Company issued an
aggregate of 1,910,112 common shares of the Company, which are
subject to a one-year lock up agreement. Following this transaction,
Mr. Hansson and members of his family own about 5.6% or 3.1 million
shares of the Company's outstanding shares.  
Mr. Hansson commented: "Our ownership in Scandic has now been
converted into NAT shares and as a result of this transaction our
interests are further aligned with those of all shareholders. This
increased shareholding in NAT is showing my strong support of the
Company and its strategy and policies. The NAT acquisition of Scandic
will have no effect on the management of NAT in any way. I plan to
serve as Chairman and CEO for a good many years to come." 
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS 
Matters discussed in this press release may constitute
forward-looking statements. The Private Securities Litigation Reform
Act of 1995 provides safe harbor protections for forward-looking
statements in order to encourage companies to provide prospective
information about their business. Forward-looking statements include
statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other
statements, which are other than statements of historical facts. 
The Company desires to take advantage of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995 and is
including this cautionary statement in connection with this safe
harbor legislation. The words "believe," "anticipate," "intend,"
"estimate," "forecast," "project," "plan," "potential," "will,"
"may," "should," "expect," "pending" and similar expressions identify
forward-looking statements. 
The forward-looking statements in this press release are based upon
various assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, our management's
examination of historical operating trends, data contained in our
records and other data available from third parties. Although we
believe that these assumptions were reasonable when made, because
these assumptions are inherently subject to significant uncertainties
and contingencies which are difficult or impossible to predict and
are beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections. We undertake
no obligation to update any forward-looking statement, whether as a
result of new information, future events or otherwise. 
Important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking
statements include the strength of world economies and currencies,
general market conditions, including fluctuations in charter rates
and vessel values, changes in demand in the tanker market, as a
result of changes in OPEC's petroleum production levels and world
wide oil consumption and storage, changes in our operating expenses,
including bunker prices, drydocking and insurance costs, the market
for our vessels, availability of financing and refinancing, changes
in governmental rules and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation,
general domestic and international political conditions, potential
disruption of shipping routes due to accidents or political events,
vessels breakdowns and instances of off-hires and other important
factors described from time to time in the reports filed by the
Company with the Securities and Exchange Commission, including the
prospectus and related prospectus supplement, our Annual Report on
Form 20-F, and our reports on Form 6-K. 
Press Release (PDF): http://hugin.info/201/R/1669803/542560.pdf 
Contacts:
Scandic American Shipping Ltd 
Manager for:
Nordic American Tankers Limited
P.O Box 56, 3201 
Sandefjord, Norway
Tel: + 47 33 42 73 00 
E-mail: nat@scandicamerican.com  
Rolf Amundsen
Head of Investor Relations, Norway
Nordic American Tankers Limited
Tel: +1 800 601 9079 
or + 47 908 26 906 
Turid M. Sorensen
EVP & CFO, Norway
Nordic American Tankers Limited
Tel: +47 33 42 73 00 
or +47 90 57 29 27 
Gary J. Wolfe
Seward & Kissel LLP, New York, USA
Tel: +1 212 574 1223 
 
 
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