QMAR Quintana Maritime Ltd (MM)

Transaction nets $191 million for Quintana Maritime Limited NEW YORK, May 15 /PRNewswire/ -- Dahlman Rose & Co., LLC, an investment bank specializing in marine transport and related industries, today announced that it has completed a private investment in public equity (PIPE) transaction on behalf of Quintana Maritime Limited (NASDAQ:QMAR) for $191 million, the single largest PIPE transaction in the history of the shipping industry. As result of this transaction, which included the sale of 2,045,542 units, Quintana Maritime was able to acquire the 17-vessel fleet of Metrobulk, a private Greek ship owner, giving Quintana one of the largest and youngest fleets among the US-listed dry-bulk companies. "Dahlman Rose has the expertise and industry knowledge that made this transaction a reality," said Simon Rose, Chief Executive Officer of Dahlman Rose & Co. "Coupled with the vision of Quintana to create the largest and youngest US-listed fleet in dry bulk, investors could easily see the inherent value in this transaction." Because of its strong ties to investors and an unparalleled understanding of the shipping industry, Dahlman Rose & Co.'s sales force was able to complete the marketing and sale of the offering in two weeks. "The speed with which we completed this transaction is a testament both to the quality of our sales force and the respect of the investment community for Quintana," Rose said. "We will continue to seek out similar transactions, which stimulate the growth of the maritime sector and provide value to shareholders." Including the transaction announced today, Dahlman Rose & Co. has participated in six shipping-related transactions in the past 12 months, which have raised approximately $1.5 billion in equity. Editors note: Simon Rose available for interviews Monday, May 15, 2006. About Dahlman Rose & Co., LLC Dahlman Rose & Co. is a boutique investment bank specializing in marine transport and related industries. It provides a dedicated team of professionals, working seamlessly together, that delivers quality research, trading, and investment banking capabilities to its clients. The firm provides performance for our clients due to its trading specialization, and its trading personnel are attuned to the important day-to-day drivers in daily share price movement. This allows them to react accordingly, assisting our clients in achieving the best possible execution within the marketplace. Their investment banking clients gain a myriad of benefits from working closely with a team that possesses a deep understanding of the industries they cover, and translate the commercial strategies of the same into cogent investment strategy. Certain statements in this Press Release constitute "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. Dahlman Rose & Co. assumes no obligation to update these forward looking statements to reflect actual results, changes in assumption or changes in other factors affecting such forward looking statements. For More Information Contact: Mark Kollar Cubitt Jacobs & Prosek 212-279-3115 x201 DATASOURCE: Dahlman Rose & Co., LLC CONTACT: Mark Kollar, Cubitt Jacobs & Prosek, +1-212-279-3115, Ext. 201,

Copyright