Omega Navigation Declares Quarterly Cash Dividend

Omega Navigation Enterprises, Inc. announced that its Board of Directors declared a quarterly cash dividend with respect to the fourth quarter of 2007 of $0.50 per common share payable March 3, 2008 to stockholders of record on February 21, 2008. This is the seventh consecutive dividend of $0.50 per share paid to investors since the Company went public in April, 2006.