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Global Ship Lease Takes Delivery Of 8,063 TEU Vessel

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Global Ship Lease, Inc. (NYSE: GSL) (the "Company") announced today that it took delivery of a 2005-built, 8,063 TEU containership, the OOCL Tianjin. Upon delivery, the vessel commenced a timecharter back to the seller, Orient Overseas Container Lines Limited ("OOCL"), for 36 to 39 months at a rate of $34,500 per day. With this addition, the Company's fleet stands at 18 vessels with a total capacity of 74,412 TEU.

Ian Webber, Chief Executive Officer of Global Ship Lease, stated, "We are pleased to take delivery of this high-quality vessel, which adds $9.4 million to our annual EBITDA and between $37.7 and $40.9 million to our contracted revenue stream while diversifying our charter portfolio. OOCL is one of the world's leading container liner companies and we are excited to establish a relationship with them."

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