Vela Wins Sea trade 2008 Operator Award

Dubai, October 22, SPA -- Vela International Marine Ltd. won the 2008
Tanker Operator Award at the Sea trade Middle East and Indian
Subcontinent Awards dinner, according to a report carried yesterday
by Saudi Aramco's web-site.

Talal A. Bakheet, manager of Marine Operations, accepted the award
October 9 on Vela’s behalf. President and CEO Saleh B. K‘aki said, “I
am very pleased that we have again been honored with an award for
excellence.”

It was the fourth year in a row that Vela received an award as part
of the prestigious event. In 2007, Vela received the Safety and
Quality award. Previous awards include the Environmental Award, the
Maritime Education Award and the Technical Innovation Award.

K‘aki presented the Vela-sponsored Technical Innovation award to
Eveva Solutions Ltd.

The Seatrade Awards celebrate, recognize and reward excellence
within the international maritime industry. The awards are judged by
an independent panel of industry leaders from across the
international maritime industry.

--SPA