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NEW YORK, NY, August 6, 2008 — General Maritime Corporation and Arlington Tankers Ltd. jointly announced today that they have entered into a definitive agreement whereby the two companies will combine in a stock-for-stock combination. The combination will create a leading publicly traded tanker company with a value of approximately $2 billion. Covington & Burling LLP advised UBS Investment Bank, financial advisor to General Maritime, on the transaction. 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. Arlington Tankers is an international seaborne transporter of crude oil and petroleum products. UBS provides investment banking and securities, wealth management, asset management, and retail and corporate banking services worldwide. The Covington corporate team was led by partner J. D. Weinberg and included associates Andrew Ment and Russell Valdez. All are resident in the firm’s New York office.