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2014-04-11

Nordic American Tankers Limited: Nordic American Tankers Limited (NYSE:NAT) Announces Underwriters' Exercise of Option to Purchase Additional Shares and Closin

Hamilton, Bermuda, April 11, 2014

Nordic American Tankers Limited (the "Company") announced today that, in
connection with its previously announced public offering of 12,000,000 common
shares at a public offering price of $8.62 per share, the underwriters
exercised in full the option granted to them by the Company and purchased an
additional 1,800,000 common shares on the same terms on which the 12,000,000
common shares were sold to the underwriters. The Company also announced that
the closing of the follow-on offering and the closing of the option to
purchase additional shares took place simultaneously today. The common
shares were offered pursuant to the Company's effective shelf registration
statement. Morgan Stanley&Co. LLC acted as the bookrunning manager for the
offering and Global Hunter Securities, LLC acted as co-manager of the
offering.

Following the closing completed earlier today, the total net proceeds to the
Company, before expenses to the Company and including net proceeds from the
sale of the additional shares, were approximately $113.6 million.

As previously announced, the Company intends to use the net proceeds of this
offering primarily to finance the acquisition of potentially two to four
vessels, depending on the age of the vessels, and general corporate purposes.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy securities and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offer, solicitation or sale is
unlawful. The offering was made by means of a prospectus and related
prospectus supplement. A prospectus supplement related to the offering was
filed with the Securities and Exchange Commission. Copies of the prospectus
and prospectus supplement relating to the offering may be obtained from the
offices of Morgan Stanley&Co. LLC at 180 Varick Street, Second Floor, New
York, New York 10014, Attention: Prospectus Department.

About the Company
The Company is an international tanker company that owns 20 double-hull
Suezmax tankers.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides
safe harbor protections for forward-looking statements in order to encourage
companies to provide prospective information about their business.
Forward-looking statements 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 Company desires to take advantage of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and is including this
cautionary statement in connection with this safe harbor legislation. The
words "believe," "anticipate," "intend," "estimate," "forecast," "project,"
"plan," "potential," "will," "may," "should," "expect," "pending" and similar
expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, our management's examination of historical
operating trends, data contained in our records and other data available from
third parties. Although we believe 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, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections. We undertake no
obligation to update any forward-looking statement, whether as a result of
new information, future events or otherwise.
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 fluctuations in charter rates and vessel values, changes in demand
in the tanker market, as a result of changes in OPEC's petroleum production
levels and world wide oil consumption and storage, changes in our operating
expenses, including bunker prices, drydocking and insurance costs, the market
for our vessels, availability of financing and refinancing, changes in
governmental rules and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation, general
domestic and international political conditions, potential disruption of
shipping routes due to accidents or political events, vessel breakdowns and
instances of off-hire, failure on the part of a seller to complete a sale of
a vessel to us and other important factors described from time to time in the
reports filed by the Company with the Securities and Exchange Commission,
including the prospectus and related prospectus supplement, our Annual Report
on Form 20-F, and our reports on Form 6-K.

Contacts:

Scandic American Shipping Ltd.
Manager for:
Nordic American Tankers Limited
P.O Box 56, 3201 Sandefjord, Norway
Tel: + 47 33 42 73 00 E-mail: nat@scandicamerican.com

Jacob Ellefsen,
Manager, Investor Relations and Research, Monaco
Nordic American Tankers Limited
Tel: + 377 93 25 89 07 or + 33 678 631 959

Rolf Amundsen, Advisor, Norway
Nordic American Tankers Limited
Tel: +1 800 601 9079 or + 47 908 26 906

Turid M. Sørensen, CFO&EVP, Norway
Nordic American Tankers Limited
Tel: +47 33 42 73 00 or +47 90 57 29 27

Gary J. Wolfe
Seward&Kissel LLP, New York, USA
Tel: +1 212 574 1223

Herbjørn Hansson, Chairman and CEO, Norway
Nordic American Tankers Limited
Tel: +1 866 805 9504 or + 47 901 46 291

Press release (PDF)
http://hugin.info/201/R/1776754/606246.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nordic American Tankers Limited via Globenewswire

HUG#1776754

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