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Aegean Marine Petroleum Network Inc. has today announced that it has completed its previously announced acquisition of Verbeke Bunkering N.V., a leading physical supplier of marine fuel in the Antwerp-Rotterdam-Amsterdam (ARA) region, the world's second largest bunkering market.

Commenting on the news, E. Nikolas Tavlarios, President of Aegean Marine, said: "We are pleased to complete the accretive acquisition of Verbeke Bunkering and solidify our presence in the vast ARA region. With this strategic transaction, the largest in our Company's history, we have more than tripled Aegean Marine's global reach since going public in December 2006. Management's successful track record in consolidating the fragmented marine fuel supply industry in a disciplined manner positions Aegean Marine well to significantly strengthen its global brand recognition and increase future sales volumes."

Verbeke Bunkering is majority owned by the fourth generation of the Verbeke family, which has an operating history of more than 100 years initially in shipping and subsequently in bunkering.

As a physical supplier, Verbeke Bunkering covers the entire ARA region, including key ports surrounding Antwerp, Rotterdam and Amsterdam, such as Ghent, Zeebrugge, Flushing, Terneuzen, and Sluiskil. The company provides bunkering services in port to a diverse group of ship operators as well as marine fuel traders, brokers and other users.

Verbeke focuses on purchasing quality marine fuels from refineries and major oil producers and providing same-day sales and delivery services to customers. For the twelve months ended December 31, 2009, the volume of marine fuel sold by Verbeke is expected to total approximately 3,500,000 metric tons.

Verbeke Bunkering operates a total of 18 bunkering vessels, of which nine are owned and nine are chartered-in. Two of the nine owned vessels are joint ventures in which Verbeke holds a minority stake. In connection with the acquisition, Aegean has agreed to purchase the nine owned bunkering vessels and assume the contracts for the nine vessels chartered-in by Verbeke. Additionally, Aegean will assume the contract for a bunkering tanker newbuilding, of which Verbeke holds a 50% stake, scheduled to be delivered in 2010.

Following the acquisition, Verbeke will continue to be led by its Chief Executive Officer, Tony Vertommen.

Commenting on the takeover in January, Mr. Vertommen said, "We are excited to merge with Aegean Marine Petroleum Network. The company has established itself as a leading independent physical supplier of marine fuel from procurement to delivery. By joining Aegean's premier global network, we expect to expand our opportunities for long-term growth and strengthen our leading position in our core markets."