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Tsakos Energy Navigation (TEN) Holds Tenth Annual General Meeting

30 May 2002

Hamilton, Bermuda: 30 May 2002 - Tsakos Energy Navigation Limited (TEN) (NYSE: TNP) conducted its tenth Annual General Meeting (AGM) with 56.7 % of its common shares represented in person or by proxy. All the resolutions proposed were approved by the meeting, in particular:

1) Mr. Stavropoulos and Mr. Nicholson were re-elected to serve a two-year term.

2) The audited financial statements for the year to 31 December were adopted.

3) Arthur Andersen, Athens and Ernst & Young, were appointed as joint auditors for the financial year ending 31 December 2002.

4) The remuneration of the non-executive directors was set at US$40,000 and of the Chairman at US$60,000.