STEALTHGAS INC. (NASDAQ: GASS), a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today that the previously reported insurance matter relating to its vessel Eco Wizard has been satisfactorily concluded with the vessel's insurers and the agreed compensation has been received. The Company intends to sell the vessel in its current damaged condition to third parties (no monetary value will be gained for Stealthgas from such sale).

In more good news, the Company also announced today that in relation to the single vessel that had been stranded inside the Persian Gulf following the eruption of hostilities, the vessel has safely exited the Straits of Hormuz without any incident occurring.

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