Stelmar Shipping Ltd. Invites You to Join Its Fourth Quarter and Year-End 2002 Earnings Conference Call.

In conjunction with Stelmar Shipping Ltd.'s fourth quarter and year-end earnings announcement, you are invited to listen to management's conference call to discuss the Company's results on January 28, 2003 at 10:00 a.m. Eastern Time. It will also be broadcast live over the Internet. Nick Hartley, Chairman; Peter Goodfellow, Chief Executive Officer and President; and Stamatis Molaris, Chief Financial Officer of Stelmar Shipping Ltd. will lead the call.

    WHAT:     Stelmar Shipping Ltd. Fourth Quarter and Year-End 2002              Conference Call     WHEN:     Tuesday, January 28, 2003 at 10:00 a.m. Eastern Standard Time     WHERE:    There are two ways to access the call:               United States Dial-in:  (800) 406-5356              International Dial-in:  (913) 981-5572   

Please dial in at least 10 minutes prior to 10:00 a.m. Eastern Time to ensure a prompt start to the call.

    Live webcast: Click on the link below and register:    https://cis.premconf.com/sc/scw.dll/usr?cid=vlllrdwszszvmwcww   

If you are unable to participate at this time, a replay of the call will be available until midnight on February 10, 2003. United States callers can dial (888) 203-1112; international callers please dial (719) 457-0820. The access code required for the replay is 132135.

The webcast will also be archived on the Company's website, http://www.stelmar.com/. (Minimum requirements to listen to broadcast: the RealPlayer software, downloadable free from http://www.real.com/products/player/index.html, and at least a 14.4 Kbps connection to the Internet.)

To pre-register your attendance on the call, please contact Olga Lambrianidou via e-mail at ogl@athens.stelmar.com or via telephone in Athens at 011-30210-891-7252.

About Stelmar Shipping, Ltd.

Stelmar Shipping Ltd. is an international provider of petroleum product and crude oil transportation services. Headquartered in Athens, Greece, Stelmar operates one of the world's largest and most modern Handymax and Panamax tanker fleets with an average age of approximately seven years, excluding the newbuildings. The Company's fleet of 31 tankers will expand to 36 by the end of the first half of 2004. The Company, through its maintenance of a modern fleet and commitment to safety, has earned an excellent reputation for providing transportation services to major oil companies, oil traders and state-owned oil companies.

CONTACT: Stamatis Molaris, Chief Financial Officer of Stelmar Shipping Ltd., +30210-891-7260; or Leon Berman, Principal of The IGB Group, +1-212-206-0898, for Stelmar Shipping Ltd.

Web site: http://www.stelmar.com/