TBS Acquires Vessel

TBS International Limited has expanded its fleet of vessels by taking delivery of the M.V. Comanche Belle. The M.V. Comanche Belle, which will be renamed the Huron Maiden, is a 23,300 dwt multipurpose tweendecker that was built in 1983. TBS exercised the purchase option granted under the time charter dated December 9, 1996 to purchase the vessel for $3.8 million. It was delivered in Pusan, Korea on November 16, 2005. The acquisition of the M.V. Comanche Belle was previously disclosed in TBS's filings with the Securities and Exchange Commission, including the quarterly report on Form 10-Q, for the quarter ended September 30, 2005, filed on November 10, 2005.