Tsakos Energy Navigation : Declares Dividend on its 8.00% Series B and 8.875% Series C Cumulative Redeemable Perpetual Preferred Shares

367 Syngrou Avenue, 175 64 P. Faliro, Hellas

Website:http://www.tenn.gr
Press Release
July 9, 2015

ATHENS, GREECE, July 9, 2015 - Tsakos Energy Navigation Limited ('TEN') (NYSE: TNP), a leading crude, product, and LNG tanker operator, today announced that its Board of Directors declared regular quarterly cash dividends of $0.50 per share for its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares (the 'Series B
Preferred Shares'; NYSE; TNPPRB) and $0.5547 per share for its 8.875% Series C
Cumulative Redeemable Perpetual Preferred Shares (the 'Series C Preferred Shares';
NYSE; TNPPRC).
Each dividend is for the period from the most recent dividend payment date on April
30, 2015 through July 29, 2015.
The dividend on the Series B Preferred Shares will be paid on July 30, 2015 to all holders of record of Series B Preferred Shares as of July 29, 2015. The dividend on the Series C Preferred Shares will be paid on July 30, 2015 to all holders of record of Series C Preferred Shares as of July 27, 2015. Dividends on the Series B and C Preferred Shares will be payable quarterly in arrears on the 30thday of January, April, July and October of each year, when, as and if declared by TEN's board of directors. This is the ninth dividend on the Series B and the seventh dividend on the Series C.
TEN has 2,000,000 Series B Preferred Shares and 2,000,000 Series C Preferred Shares outstanding as of the date of this press release.

To date, TEN's fleet, including the LNG carrier Maria Energy, nine Aframax crude oil tankers and two LR1 tankers all under construction, consists of 64 double-hull vessels (including Suezmax DP2 option), a mix of crude tankers, product tankers and LNG carriers, totaling 6.72 million dwt. Of these 44 vessels trade in crude, 14 in products, four are shuttle tankers (including Suezmax DP2 option) and two LNG carriers. The average age of the operational fleet is 7.9 years.

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All TEN's tanker newbuildings are fixed on accretive long term project business.

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward- looking statements. TEN undertakes no obligation to publicly update any forward-
looking statement, whether as a result of new information, future events, or otherwise.
For further information please contact:

Tsakos Energy Navigation Ltd. George Saroglou
COO
+30210 94 07 710 gsaroglou@tenn.gr

Capital Link, Inc. Nicolas Bornozis Paul Lampoutis
+212 661 7566 ten@capitallink.com

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