Nordic American Tankers Limited : Nordic American Tankers Ltd. ("NAT"- (NYSE:NAT) completes acquisition of Scandic American

    Nordic American Tankers Limited : Nordic American Tankers Ltd. ("NAT"-
   (NYSE:NAT) completes acquisition of Scandic American Shipping Ltd., the
                           Business Manager of NAT.

Hamilton, Bermuda, January 11, 2013.

On December 17, 2012 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  Herbjørn 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.

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. Sørensen, 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

Press Release (PDF)

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Source: Nordic American Tankers Limited via Thomson Reuters ONE
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