ATHENS, GREECE--(Marketwired - Oct 12, 2017) - TEN Ltd. ("TEN") (NYSE: TNP) (the "Company"), a leading diversified crude, product and LNG tanker operator, today announced that its Board of Directors declared the regular quarterly cash dividend of $0.50 per share for its Series B Cumulative Redeemable Perpetual Preferred Shares (the "Series B Preferred Shares") (NYSE: TNPPRB) and approximately $0.5547 per share for its 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 July 30, 2017 through October 29, 2017. 

The dividend on the Series B Preferred Shares will be paid on October 30, 2017 to all holders of record of Series B Preferred Shares as of October 27, 2017. The dividend on the Series C Preferred Shares will be paid on October 30, 2017 to all holders of record of Series C Preferred Shares as of October 25, 2017. Dividends on the Series B and C Preferred Shares are payable quarterly in arrears on the 30th day (unless the 30th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of January, April, July and October of each year, when, as and if declared by TEN's board of directors. This is the 18th dividend on the Series B and the 16th dividend on the Series C since their commencement of trading on the New York Stock Exchange.

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.

ABOUT TSAKOS ENERGY NAVIGATION
 TEN, founded in 1993, is one of the first and most established public shipping companies in the world today. TEN's pro-forma fleet, including one Aframax tanker under construction, consists of 65 double-hull vessels, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 7.2 million dwt. Of these, 45 vessels trade in crude, 15 in products, three are shuttle tankers and two are LNG carriers.

Visit our company website at: http://www.tenn.gr

COMPANY'S GROWTH TIME-TABLE

# Vessel Name Type   Dwt   Delivery   Status   Employment
1UlyssesVLCC  300,000  May 2016  Delivered  Yes
2Elias TsakosAframax  112,700  June 2016  Delivered  Yes
3Thomas ZafirasAframax  112,700  Aug 2016  Delivered  Yes
4Leontios HAframax  112,700  Oct 2016  Delivered  Yes
5Parthenon TSAframax  112,700  Nov 2016  Delivered  Yes
6SunrayPanamax LR1  74,200  Aug 2016  Delivered  Yes
7SunrisePanamax LR1  74,200  Sep 2016  Delivered  Yes
8Maria EnergyLNG  93,616  Oct 2016  Delivered  Yes
9Hercules IVLCC  300,000  Jan 2017  Delivered  Yes
10Marathon TSAframax  112,700  Feb 2017  Delivered  Yes
11Lisboa DP2 Shuttle  157,000  Mar 2017  Delivered  Yes
12Sola TSAframax  112,700  Apr 2017  Delivered  Yes
13Oslo TSAframax  112,700  May 2017  Delivered  Yes
14Stavanger TSAframax  112,700  July 2017  Delivered  Yes
15 Bergen TS Aframax   112,700   Q4 2017   TBD   Yes

ABOUT FORWARD-LOOKING STATEMENTS
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.