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TEN Ltd. Declares Dividend on its Series B and Series C Cumulative Redeemable Perpetual Preferred Shares

ATHENS, GREECE -- (Marketwired) -- 10/12/17 -- TEN Ltd. ("TEN") (NYSE: TNP) (the "Company"), a leading diversified crude, product and LNG tanker operator, today announced that its Board of Directors declared the regular quarterly cash dividend of $0.50 per share for its Series B Cumulative Redeemable Perpetual Preferred Shares (the "Series B Preferred Shares") (NYSE: TNPPRB) and approximately $0.5547 per share for its Series C Cumulative Redeemable Perpetual Preferred Shares (the "Series C Preferred Shares") (NYSE: TNPPRC).

Each dividend is for the period from the most recent dividend payment date on July 30, 2017 through October 29, 2017.

The dividend on the Series B Preferred Shares will be paid on October 30, 2017 to all holders of record of Series B Preferred Shares as of October 27, 2017. The dividend on the Series C Preferred Shares will be paid on October 30, 2017 to all holders of record of Series C Preferred Shares as of October 25, 2017. Dividends on the Series B and C Preferred Shares are payable quarterly in arrears on the 30th day (unless the 30th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of January, April, July and October of each year, when, as and if declared by TEN's board of directors. This is the 18th dividend on the Series B and the 16th dividend on the Series C since their commencement of trading on the New York Stock Exchange.

TEN has 2,000,000 Series B Preferred Shares and 2,000,000 Series C Preferred Shares outstanding as of the date of this press release.

ABOUT TSAKOS ENERGY NAVIGATION
TEN, founded in 1993, is one of the first and most established public shipping companies in the world today. TEN's pro-forma fleet, including one Aframax tanker under construction, consists of 65 double-hull vessels, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 7.2 million dwt. Of these, 45 vessels trade in crude, 15 in products, three are shuttle tankers and two are LNG carriers.

Visit our company website at: http://www.tenn.gr

COMPANY'S GROWTH TIME-TABLE

----------------------------------------------------------------------------
#   Vessel Name        Type      Dwt        Delivery   Status     Employment
----------------------------------------------------------------------------
1   Ulysses            VLCC      300,000    May 2016   Delivered  Yes
----------------------------------------------------------------------------
2   Elias Tsakos      Aframax    112,700    June 2016  Delivered  Yes
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3   Thomas Zafiras    Aframax    112,700    Aug 2016   Delivered  Yes
----------------------------------------------------------------------------
4   Leontios H        Aframax    112,700    Oct 2016   Delivered  Yes
----------------------------------------------------------------------------
5   Parthenon TS      Aframax    112,700    Nov 2016   Delivered  Yes
----------------------------------------------------------------------------
6   Sunray          Panamax LR1  74,200     Aug 2016   Delivered  Yes
----------------------------------------------------------------------------
7   Sunrise        Panamax LR1   74,200     Sep 2016   Delivered  Yes
----------------------------------------------------------------------------
8   Maria Energy        LNG      93,616     Oct 2016   Delivered  Yes
----------------------------------------------------------------------------
9   Hercules I         VLCC      300,000    Jan 2017   Delivered  Yes
----------------------------------------------------------------------------
10  Marathon TS       Aframax    112,700    Feb 2017   Delivered  Yes
----------------------------------------------------------------------------
11  Lisboa          DP2 Shuttle  157,000    Mar 2017   Delivered  Yes
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12  Sola TS           Aframax    112,700    Apr 2017   Delivered  Yes
----------------------------------------------------------------------------
13  Oslo TS           Aframax    112,700    May 2017   Delivered  Yes
----------------------------------------------------------------------------
14  Stavanger TS      Aframax    112,700    July 2017  Delivered  Yes
----------------------------------------------------------------------------
15  Bergen TS         Aframax    112,700    Q4 2017    TBD        Yes
----------------------------------------------------------------------------

ABOUT FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

For further information please contact:

Company
Tsakos Energy Navigation Ltd.
George Saroglou
COO
+30210 94 07 710
gsaroglou@tenn.gr

Investor Relations / Media
Capital Link, Inc.
Nicolas Bornozis
Paul Lampoutis
+212 661 7566
ten@capitallink.com

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