ATHENS, Greece, Aug. 26 /PRNewswire-FirstCall/ -- TOP Tankers Inc (Nasdaq: TOPT), announced today that it took delivery of M/T Restless, a 47,084 Dwt, ice-classed, double-hull Handymax tanker, built in 1991 by Halla Engineering & Heavy Industries Limited of the Republic of Korea.

As with all the Company's Handymax tankers, the vessel commenced its 2-year profit-sharing employment contract with a major oil trader.

The delivery of the M/T Restless represents the sixth of 10 double-hull tankers the Company is acquiring using the proceeds of its initial public offering announced on July 23, 2004.

This sixth delivery increases the size of the fleet to 13 tankers, consisting of 2 Suezmax tankers, 8 Handymax tankers and 3 Handysize tankers.

About TOP Tankers Inc

TOP Tankers Inc is an international provider of worldwide seaborne crude oil and petroleum products transportation services. Upon delivery of all 10 vessels, the company will own and operate a fleet of 17 tankers, consisting of 4 Suezmax tankers, 10 ice-classed Handymax tankers and 3 Handysize tankers, with a total carrying capacity of approximately 1.14 million Dwt.

Forward-Looking Statement

Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.

     Michael Mason (investors)        Stamatis Tsantanis, CFO
    
     Allen & Caron Inc                TOP Tankers Inc
    
     212 691 8087                     011 30 210 699 4357
    
     michaelm@allencaron.com          snt@toptankers.com
    

    

    
SOURCE  TOP Tankers Inc
    
    -0-                             08/26/2004
    
    /CONTACT:  Stamatis Tsantanis, CFO of TOP Tankers Inc,
    
011 30 210 699 4357, snt@toptankers.com; or Investors, Michael Mason of Allen
    
& Caron Inc, +1-212-691-8087, michaelm@allencaron.com, for TOP Tankers Inc/
    
    (TOPT)
    

    
CO:  TOP Tankers Inc; Halla Engineering & Heavy Industries Limited
    
ST:  Greece
    
IN:  TRN MAR
    
SU:  PDT
    

    
IL-ER 
    
-- LATH042 --
    
5350 08/26/2004 11:21 EDT http://www.prnewswire.com