Abraham, Fruchter & Twersky, LLP Announces That It Has Been Retained to File a Class Action With Respect to the IPO of Britannia Bulk Holdings Inc.

NEW YORK, NY--(Marketwire - November 7, 2008) - Abraham, Fruchter & Twersky, LLP ("AF&T") has been retained to file a class action law suit arising out of the June 17, 2008 initial public offering ("IPO" or the "Offering") of Britannia Bulk Holdings Inc. ("Britannia") (PINKSHEETS: BBLKF) on behalf of purchasers of common stock pursuant or traceable to the Company's Registration Statement and Prospectus (collectively, the "Registration Statement") issued in connection with the IPO.

A complaint already filed charges Britannia, certain of its officers and the IPO underwriters with including, or allowing the inclusion of, materially false and misleading statements in the Registration Statement in violation of the Securities Act of 1933. In particular, the complaint alleges that the statements made in the Registration Statement were materially false and misleading because of the failure to properly disclose the problems in the Company's activities in the forward freight agreements ("FFAs") market. Specifically, the Registration Statement concealed that the Company failed to institute and enforce controls that would prevent Company personnel from buying FFAs not purchased to hedge identifiable ship or cargo positions. FFAs were represented to only be used as a hedge, however, in fact, FFAs were used outside of these guidelines, exposing the Company to significant risks. Moreover, the Company had not entered into appropriate fixed price contracts given the dramatic fluctuation in crude oil and bunker fuels.

Plaintiff is represented by AF&T which has expertise in prosecuting investor class actions. If you wish to serve as lead plaintiff, you must move the Court by January 5, 2009. To serve as lead plaintiff, you must meet certain legal requirements set forth in the applicable law and file appropriate papers with the Court. You do not need to seek appointment as a lead plaintiff in order to share in any recovery. You may retain AF&T, or other counsel of your choice, to serve as your counsel in this action or you may choose to do nothing and remain an absent class member.

If you wish to discuss this action, participate in this lawsuit, or have any questions or concerns regarding this notice, or preservation of your rights, please contact:

Contact Information: Jack G. Fruchter Abraham, Fruchter & Twersky, LLP One Penn Plaza, Suite 2805 New York, N.Y. 10119 Telephone: (212) 279-5050 e-mail: Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.