StealthGas INC

STEALTHGAS INC. ANNOUCES DATE FOR THE RELEASE OF THIRD QUARTER 2008 RESULTS, CONFERENCE CALL AND WEBCAST

Earnings Release:   Thursday, November 13, 2008, Before Market Opens
Conference Call and Webcast: Thursday, November 13, 2008, at 11:00 am EST

 ATHENS, GREECE, October 21, 2008.  STEALTHGAS INC. (NASDAQ: GASS) (the “Company”), a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today that it will release its third quarter results for the period ended September 30, 2008 on Thursday, November 13, 2008 before the opening of the market in New York.

On Thursday, November 13, 2008 at 11:00 A.M. EST, the company’s management will host a conference call to discuss the results and the company’s operations and outlook.

Conference Call details:
Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1866 388 1925 (US Toll Free Dial In) or 0800 358 7034 (UK Toll Free Dial In). 

In case of any problems with the above numbers, please dial +1 703 621 9128 (US Toll Dial In), or +44 (0)208 609 1270 (Standard International Dial In). Please quote "STEALTHGAS".
 
A telephonic replay of the conference call will be available until November 20, 2008 by dialing 1866 676 5865 (US Toll Free Dial In), 0800 358 2189 (UK Toll Free Dial In) or +44 (0)20 8609 0289 (Standard International Dial In). Access Code: 237812 #

Slides and audio webcast:
There will also be a live -and then archived webcast of the conference call, through the STEALTHGAS INC. website (www.stealthgas.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

About STEALTHGAS INC.

Headquartered in Athens, Greece, STEALTHGAS INC. is a ship-owning company serving primarily the liquefied petroleum gas (LPG) sector of the international shipping industry. STEALTHGAS INC. currently has a fleet of 37 LPG carriers with a total capacity of 165,286 cubic meters (cbm) and two M.R. Product Tankers. In addition, the company has also entered into agreements to acquire one second-hand LPG carrier with expected delivery in October 2008; three resale new building LPG carriers with expected delivery from October 2008 until June 2009; five new building LPG carriers with expected delivery from September 2010 through December 2011, two resale new building M.R. Product Carriers with expected delivery in April and November 2009. The Company has also entered into agreements to construct in China two  156,000 deadweight Suezmax oil tankers for delivery in April and July 2011 respectively, plus it has an option to construct two further such vessels for delivery in the first and second quarters of 2012. The Company has also contracted to sell one LPG carrier, the Gas Amazon with delivery to its new owner scheduled for November 2008. Once these firm acquisitions are completed, STEALTHGAS INC’S fleet will be composed of 45 LPG carriers with a total capacity of 203,973 cubic meters (cbm), four M.R. Product Tankers with a total capacity of 190,500 deadweight tons (dwt) and two Suezmax Oil Tankers with a total capacity of 312,000 deadweight tons (dwt).
STEALTHGAS INC’S shares are listed on the NASDAQ Global Select Market and trade under the symbol “GASS
 
Forward-Looking Statement
Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although STEALTHGAS INC. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, STEALTHGAS INC. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charterhire rates and vessel values, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydocking, changes in STEALTHGAS INC.'s operating expenses, including bunker prices, dry-docking and insurance costs, or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by STEALTHGAS INC. with the US Securities and Exchange Commission.

Visit our website at www.stealthgas.com
 
Company Contact:
Andrew J. Simmons
Chief Financial Officer
STEALTHGAS INC.
011-30-210-6250-001
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