Statement Issued by Costamare, in respect of the RENA

Athens, January 10, 2012

Following the further deterioration of the RENA on the Astrolabe Reef and sinking of the stern section, owners wish to assure all those affected, that the company continues to cooperate fully with Maritime New Zealand and other government departments to do everything possible to mitigate the effects of the situation.

In conjunction with the company’s appointed salvors and insurers, plans are currently being formulated for dealing with both parts of the wreck. These plans are to be discussed with government authorities and other experts in the field, to ensure minimum damage to the environment and disruption to the lives of those living in the area

The Company and its insurers continue to fund the salvage operation, including the recovery and processing of containers washed overboard.

In addition we would also like to thank MSC as Time Charterer of MV Rena for the continuous assistance and full support given since the grounding. We would like to underline that MSC as Time Charterer is not a responsible party to this very unfortunate incident.

ENDS

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