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Marine Log

May 12, 2008

Nordic American commences public offering

Nordic American Tanker Shipping Limited (NYSE:NAT) reports it has commenced an offering of 4,000,000 common shares.

On May 12, 2008, the closing price of the company's common shares on the New York Stock Exchange was $40.08 per share. The common shares are being offered pursuant to the company's effective shelf registration statement. Morgan Stanley is acting as the bookrunning manager for the offering, and Dahlman Rose & Company is acting as a co-manager for the offering. The company expects to close the sale of the common shares on May 16, 2008, subject to customary closing conditions. The underwriters have a 30-day option to purchase up to 600,000 additional shares to cover over-allotments.

Net proceeds of the offering are expected to be used to prepare the company for further expansion and, in the meantime, for repayment of borrowings and for working capital.

The offering is being made only by means of a prospectus and related prospectus supplement. A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission. When available, copies of the prospectus and prospectus supplement relating to the offering may be obtained from the offices of Morgan Stanley at 180 Varick Street, Second Floor, New York, New York 10014, Attention: Prospectus Department or by telephone to (212) 761-6775.

Nordic American owns fourteen modern double-hull Suezmax tankers including two newbuilding Suezmax tankers that it has agreed to acquire.

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