Tsakos Energy Navigation Announces Quarterly Dividend

ATHENS, GREECE--(Marketwire - October 5, 2010) -  Tsakos Energy Navigation Limited (TEN) (NYSE: TNP) announced today that its Board of Directors has declared a regular quarterly dividend of $0.15 per share of common stock outstanding payable on October 26, 2010 to shareholders of record on October 22, 2010. The stock will trade ex-dividend on October 20, 2010.

Including the above distribution, TEN will have distributed $8.475 per share in dividends to its shareholders since the Company was listed on the NYSE in March of 2002. The listing price was $7.50 per share taking into account for the 2-1 share split of November 14, 2007.

In addition the Company announced the conclusion of the ATM program. The last trade of shares under the program was on May 3, 2010.

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.

About Tsakos Energy Navigation
TEN's pro forma fleet (including the recently acquired Panamaxes) consists of 50 vessels of 5.3 million dwt. TEN's operational fleet consists of 46 vessels all of double-hull design of which 21 are ice-class. TEN's remaining newbuilding program includes two suezmax tankers totaling 316,000 dwt.

TEN's balanced operational fleet profile is reflected in 21 crude tankers ranging from VLCCs to aframaxes and 24 product carriers ranging from aframaxes to handysize; complemented by one LNG.

TEN's current employment profile:

Type of Employment	Vessels
Period Employment - Fixed and fixed with profit share	30
CoA - market related	3
Pool - market related	4
Spot - market related	9

TEN's current newbuilding program:

Suezmax	DWT	Hull Type/ Design	Delivery
1. S2034	158,000	DH	Q2 2011
2. S2035	158,000	DH	Q3 2011

DH: Double Hull

Contact Information:

For further information, please contact:
Company
Tsakos Energy Navigation Ltd.
George Saroglou
COO
+30210 94 07 710
gsaroglou@tenn.gr

Investor Relations / Media
Capital Link, Inc.
Nicolas Bornozis
Ramnique Grewal
+212 661 7566
ten@capitallink.com

Communications Advisor
Cubitt Jacobs & Prosek Communications
Thomas J. Rozycki, Jr.
+212 279 3115 (x208)
trozycki@cjpcom.com