Tsakos Energy Navigation Announces Delivery Of Ice-Class Double-Hull Suezmax Tanker "Archangel"

ATHENS, GREECE: January 10, 2006 - Tsakos Energy Navigation Limited (TEN) (NYSE:TNP) today announced the delivery of the 162,400dwt 1A Ice-Class double-hull crude oil tanker "Archangel" from Hyundai Heavy Industries in South Korea. The vessel is the first in a series of eight 1A ice-class vessels the Company is building and the sixth ice-class vessel to join TEN's existing fleet. The Archangel will operate in the spot market to take advantage of current firm rates. Joining the 1C ice-class suezmax Eurochampion 2004, Archangel is the second suezmax out of the seven modern suezmaxes in the fleet to have spot employment. The remaining five operate on time charters and profit sharing arrangements.

"Vessel diversity and versatility are our guiding principals in growing our fleet," stated Mr. Nikolas P. Tsakos, President and CEO of Tsakos Energy Navigation.  "The Archangel begins the deliveries of our 1A ice-class series.  In addition to the Archangel, we expect to add a further three suezmax tankers and four handysize product tankers to our fleet over the next six quarters. These state-of-the-art vessels will enhance the Company's market leading position not only in the crude and product markets, but also in the ever important ice-class trade, an area where we have placed significant emphasis and resources".

The next newbuilding expected to join TEN's fleet is the 1A ice-class suezmax tanker "Alaska" which is scheduled to be delivered from Hyundai Heavy Industries in South Korea on February 27, 2006.

ABOUT TSAKOS ENERGY NAVIGATION

TEN's proforma fleet consists of 36 vessels of 4.0 million dwt. Following the delivery of the Archangel, TEN operates a fleet of 26 vessels (including three chartered-in vessels) of approximately 3.1 million dwt with an average age of 6.0 years compared to 11.7 years of the world average. Its remaining newbuilding program today consists of 10 vessels (3 Suezmax, 2 Aframax, 4 Handysize, and 1 LNG) of 0.9 million dwt.

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.

CONTACTS:

George V. Saroglou, COO

Tsakos Energy Navigation Ltd.

Tel: 30 210 94 07 710-3

ten@tenn.gr

Thomas J. Rozycki, Jr., Vice President

Cubitt Jacobs & Prosek Communications

212-279-3115 x208

tom@cjpcom.com