TNG announces the acquisition of two newbuilding contracts

In accordance with article 459 of the Capital Market Act and articles of the Zagreb Stock Exchange Rules, Tankerska Next Generation Inc. announces the acquisition of two newbuilding contracts on March 12th 2015.

The newbuilding contracts are for the construction of two 50,000 dwt eco-designed product tanker vessels, scheduled for delivery to the Company in April and July this year from the Hyundai Mipo Dockyard in South Korea.

These vessels will be managed by Tankerska Plovidba d.d. and will be an addition to the exsisting Management Agreement.Total consideration for the two vessels will be financed by Tankerska Next Generation's funds raised through the IPO and bank debt.The price to be paid for the two acquisitions, in our strong view, is based on fair market valuations and in-line with the IPO proposition.