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2014-04-07

Nordic American Tankers Limited: Nordic American Tankers Limited (NYSE:NAT) Announces Public Offering

Hamilton, Bermuda, April 7, 2014

Nordic American Tankers Limited (the "Company") today announced an
underwritten public offering of 10,000,000 common shares pursuant to the
Company's effective shelf registration statement. Morgan Stanley&Co. LLC is
acting as the bookrunning manager for the offering and Global Hunter
Securities, LLC is acting as co-manager of the offering. The Company also
intends to grant the underwriters a 30-day option to purchase additional
common shares representing up to 15% of the offered shares.

The investors participating in this offering are entitled to a dividend of
$0.23 per share. This dividend was announced April 2, 2014 and is payable to
shareholders of record as of May 15, 2014.

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 is being made by means of a prospectus and related
prospectus supplement. 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 worldwide 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-hires 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.

The Company has filed a registration statement (including a prospectus) with
the Securities and Exchange Commission (SEC) for the offering to which this
communication relates. Before you invest, you should read the prospectus in
that registration statement, the preliminary prospectus supplement relating
to this offering and other documents the Company has filed with the SEC for
more complete information about the Company and this offering. You may get
these documents for free by visiting EDGAR on the SEC Web site at
www.sec.gov. Alternatively, copies may be obtained from Morgan Stanley at 180
Varick Street, Second Floor, New York, New York 10014, Attention: Prospectus
Department. You may also request a copy of these documents by sending an
e-mail toir@nat.bm.

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/1775343/605390.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

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