Aegean Marine Petroleum Network Inc. Announces 2M Share Repurchase Program

Aegean Marine Petroleum Network Inc. ANW today announced that its Board of Directors has approved a share repurchase program for up to 2,000,000 shares of the Company's common stock. The Board will review and may choose to renew the program after a period of 12 months. Share repurchases will be made from time to time for cash in open market transactions at prevailing market prices or in privately negotiated transactions. The timing and amount of purchases under the program will be determined by the Board's special committee and management based upon market conditions and other factors. E. Nikolas Tavlarios, President, commented, "The adoption of a share repurchase program demonstrates the strong confidence our Board and management team have in Aegean and its fundamentals. With a strong balance sheet, we remain well positioned to further expand Aegean's global marine fuel platform while repurchasing shares at attractive prices for the benefit of the Company and its shareholders." The program does not require the Company to purchase any specific number or amount of shares and may be suspended or reinstated at any time in the Company's discretion and without notice. Purchases will be subject, among other things, to Aegean's insider trading policies.