Overseas Shipholding Group Revenue and Competitors

Overseas Shipholding Group, Inc. (“OSG”) one of the world’s largest bulk-shipping companies, owns and operates a modern tanker fleet of 52 vessels aggregating 9.2 million deadweight tons ("dwt") comprised of international flag and U.S. flag vessels that transport crude oil, petroleum products and dry bulk commodities. Additionally, the Company's newbuilding program consists of two Aframaxes aggregating 0.23 million dwt; the Company will take delivery of these vessels in October 2003 and January 2004. The Company enjoys an outstanding reputation for safety, quality and reliability, reflected in its many significant long-term relationships with international oil companies and other major charterers. OSG is committed to providing quality tonnage and service to its customers, and to developing innovative solutions to meet each customer's unique transportation requirements. The size and diversity of OSG's tanker fleet, the Company's financial strength, and the skill and experience of OSG's crews and shoreside staff enable us to offer our customers premium quality transportation services at competitive rates.