1443799--3/1/2010--General_Maritime_Corp_/

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ADDITIONAL FACTORS THAT MAY AFFECT FUTURE RESULTS RISK FACTORS RELATED TO OUR BUSINESS OPERATIONS We may incur adverse consequences in connection with our executive transition. The current global economic turndown may negatively impact our business. The cyclical nature of the tanker industry may lead to volatility in charter rates and vessel values which may adversely affect our earnings. Charter rates for vessels may decrease in the future, which may adversely affect our earnings and ability to pay dividends and/or principal, premium, if any, and interest on our Senior Notes. An over supply of new vessels may adversely affect charter rates and vessel values. Our revenues may be adversely affected if we do not successfully employ our vessels. We receive a significant portion of our revenues from a single customer, and any decrease in the amount of business it or any other significant customer transacts with us could materially and adversely affect our cash flows and profitability. The failure of our counterparties to meet their obligations under our time charter agreements could cause us to suffer losses or otherwise adversely A decline in demand for crude oil or a shift in oil transport patterns could materially and adversely affect our revenues. The market for crude oil transportation services is highly competitive and we may not be able to effectively compete. The market value of our vessels may fluctuate significantly, and we may incur losses when we sell vessels following a decline in their market value. We may not be able to grow or to effectively manage our growth. Our operating results may fluctuate seasonally. Because we generate all of our revenues in U.S. Dollars but incur a significant portion of our expenses in other currencies, exchange rate fluctuations could have an adverse impact on our results of operations. There may be risks associated with the purchase and operation of secondhand vessels. Delays or defaults by the shipyards in the construction of any new vessels that we may order could increase our expenses and diminish our net income and cash flows. An increase in costs could materially and adversely affect our financial performance. We may face unexpected repair costs for our vessels. Compliance with safety and other vessel requirements imposed by classification societies may be very costly and may adversely affect our business. We depend on our key personnel and may have difficulty attracting and retaining skilled employees. Shipping is an inherently risky business and our insurance may not be adequate. The risks associated with older vessels could adversely affect our operations. Acts of piracy on ocean-going vessels have recently increased in frequency, which could adversely affect our business. Terrorist attacks, increased hostilities or war could lead to further economic instability, increased costs and disruption of our business. Compliance with safety, environmental and other governmental requirements and related costs may adversely affect our operations. Increased inspection procedures and tighter import and export controls could increase costs and disrupt our business. Our vessels may be requisitioned by governments without adequate compensation. Increases in tonnage taxes on our vessels would increase the costs of our operations. Arrests of our vessels by maritime claimants could cause a significant loss of earnings for the related off hire period. Proceedings involving General Maritime, our vessel-operating subsidiary and two General Maritime vessel officers could negatively impact our business. We may have to pay U.S. tax on U.S. source income, which would reduce our net income and cash flows. Legislative action relating to taxation could materially and adversely affect us. U.S. tax authorities could treat us as a passive foreign investment company, which could have adverse U.S. federal income tax consequences to U.S. shareholders. The international nature of our operations may make the outcome of any bankruptcy proceedings difficult to predict. RISK FACTORS RELATED TO OUR FINANCINGS We have incurred significant indebtedness which could affect our ability to finance our operations, pursue desirable business opportunities and successfully run our business in the future, and therefore make it more difficult for us to fulfill our obligations under the Senior Notes. We have incurred substantial debt. As of December 31, 2009, we had $1,019 million of indebtedness outstanding and shareholders equity of $406.3 million. Our substantial indebtedness and interest expense could have important consequences to our company, including: We may incur significantly more indebtedness, which could further increase the risks associated with our indebtedness and prevent us from fulfilling our obligations under the Senior Notes. We may not be able to generate sufficient cash to service all of our indebtedness. The indenture for the Senior Notes and our 2005 Credit Facility impose significant operating and financial restrictions that may limit our ability to operate our business. Fluctuations in the market value of our fleet may adversely affect our liquidity and may result in breaches under our financing arrangements and sales of vessels at a loss. If we default on our obligations to pay any of our indebtedness, we may be subject to restrictions on the payment of our other debt obligations or cause a cross-default or cross-acceleration. An increase in interest rates would increase the cost of servicing our debt and could reduce our profitability. Our ability to obtain additional debt financing may be dependent on the performance of our then existing charters and the creditworthiness of our charterers. The derivative contracts we have entered into to hedge our exposure to fluctuations in interest rates could result in higher than market interest rates and charges against our income. RISK FACTORS RELATED TO OUR COMMON STOCK Anti-takeover provisions in our financing agreements and organizational documents could have the effect of discouraging, delaying or preventing a merger or acquisition, which could adversely affect the market price of our common stock. We cannot assure you that we will pay any dividends. Future sales of our common stock could cause the market price of our common stock to decline. Our incorporation under the laws of the Republic of the Marshall Islands may limit the ability of our shareholders to protect their interests. It may not be possible for our investors to enforce U.S. judgments against us.

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1443799--3/1/2010--General_Maritime_Corp_/_MI