Dorian LPG Lands Debt Financing for Newbuilding Program

Dorian LPG Ltd. a leading owner and operator of modern Very Large Gas Carriers ("VLGCs"), today announced that is has received commitments for up to $761 million of debt financing for its VLGC newbuilding program.  ABN AMRO Capital (USA), LLC ("ABN AMRO") is acting as Global Coordinator, and Citibank, NA, London Branch ("Citibank") is acting as Export Credit Agency Coordinator.

Dorian's Chairman, John Hadjipateras, stated, "These commitments represent a key strategic milestone for our organization as this financing will complete the funding for our newbuilding program with no need to raise any additional debt or equity to take delivery of our fleet of new ECO VLGCs."

The financing has four separate tranches.  $250 million of commercial debt financing is being provided by ABN AMRO; ING Bank N.V., London branch ("ING"); DVB Bank S.E. ("DVB"); Citibank; and Commonwealth Bank of Australia (CMWAY), New York Branch ("CBA"),  (together with ABN AMRO, ING, DVB, and Citi, the "Commercial Lenders").  $205 million of financing is being provided directly by The Export Import Bank of Korea ("KEXIM").  The remaining $306 million of financing is being provided under tranches guaranteed by KEXIM ($203 million) and insured by the Korea Trade Insurance Corporation ("K-sure") ($103 million).  Financing under the KEXIM guaranteed and K-sure insured tranches will be provided by certain Commercial Lenders; Deutsche Bank AG (DB), Hong Kong Branch; and Santander Bank, N.A.

Ted Young, Dorian's Chief Financial Officer, remarked, "We are pleased to have received commitments for financing with a world class group of banks as our partners.  We appreciate their trust and support for Dorian LPG."

Pursuant to the commitments received by the Company, the debt financing will be secured by, among other things, 18 of the Company's VLGC newbuildings, and will represent a loan-to-contract cost ratio of approximately 55%. Pursuant to the commitments, the blended margin over LIBOR across all tranches of the financing will be approximately 2.1%, and the weighted average amortization profile will be approximately 14 years.

Closing of the transaction remains subject to final documentation and customary closing conditions.  The Company expects to close the transaction in February.