The Company also consummated a private
placement of an additional 1,132,500 units at $10. is a Business Combination Company
recently formed for the purpose of effecting a merger, capital stock
exchange , asset acquisition or other similar business combination with one
or more businesses in the shipping industry. At the open of the market, the units shall cease trading and the
common stock and warrants to purchase common stock included in such units
will trade separately. Any such forward-looking statements contained herein are based on
current expectations, but are subject to a number of risks and
uncertainties that may cause actual results to differ materially from
expectations such as material adverse events affecting the Company, the
ability of Company to satisfy the conditions to completion of the business
combination and those other risks and uncertainties detailed in the
Company 's filings with the Securities and Exchange Commission.S.
Air Force headquarters. S.

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Maxim Group LLC acted as lead manager and EarlyBirdCapital, Inc. is traded on the New York Stock Exchange (NYSE: CR).

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Each unit consists of
one share of common stock and one warrant.00 per unit.00 per unit to members of
its management team.

PRESS RELEASE Star Maritime Acquisition Corporation Announces Separate Trading of Common Stock and Warrants

U) (AMEX: SEA/U) today announced that it has been
notified by Maxim Group LLC, the lead managing underwriter for its initial
public offering which was consummated on December 21, 2005, that commencing
on February 27, 2006 there will be a mandatory separation of the Company's
units.

Any statements contained in this press release that do not describe
historical facts may constitute forward-looking statements as that term is
defined by the United States Private Securities Litigation Reform Act of
1995., Crane Co. His career in the Air
Force included command of the United States intercontinental ballistic missile
force and director for expeditionary aerospace force implementation at U. We are very
pleased that he has agreed to join our board of directors . is a diversified manufacturer of engineered industrial products. Crane Co.
For more information , visit http://www.

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U)
(AMEX: SEA/U) announced today that it consummated its initial public
offering of 18,867,500 units on December 21, 2005. The initial public offering and the private placement
generated gross proceeds of an aggregate of $200,000,000 to the Company. acted as
co-manager of the initial public offering.

Audited financial statements as of December 21, 2005 reflecting receipt of
the proceeds upon consummation of the initial public offering and the
private placement have been issued by the Company and are included as
Exhibit 99.

The symbols for the common stock and warrants are
SEA and SEAW, respectively." General Cook will
also serve as a member of the management organization and compensation
committee of the board.

Crane Co.com.

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Most recently, General Cook served from 2001 to 2005
as Commander, Air Education and Training Command, leading the Air Force's
recruiting , training and education efforts for nearly 500,000 people each
year. General Cook was a command pilot and flew more than 3,300 hours in
B-52, T-37 and T-38 aircraft. Evans, chairman of the board , stated: "General Cook brings a wealth
of experience and professional skills to the Crane Co. board of directors
after a long and distinguished career in service to our country. Crane has
approximately 10,500 employees in North America, South America, Europe, Asia
and Australia.

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PRESS RELEASE Star Maritime Acquisition Corp. Completes Initial Public Offering

Star Maritime Acquisition Corp. (AMEX: SEA.

STAMFORD, Conn. Cook (ret. General Cook retired from active duty as a four star general on August 1,
2005 after 36 years with the United States Air Force.

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The units were sold at an
offering price of $10.1 to a Current Report on Form 8-K filed by the Company with the
Securities and Exchange Commission.

Star Maritime Acquisition Corporation is a blank check company recently
formed for the purpose of effecting a merger, capital stock exchange, asset
acquisition or other business combination with an operating business in the
shipping industry., a diversified
manufacturer of engineered industrial products, announces today that its Board
of Directors has elected General Donald G. The
Company has five business segments: Aerospace + Electronics, Fluid Handling,
Engineered Materials, Merchandising Systems and Controls.

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Star Maritime Acquisition Corp.

Information about this offering is available in the prospectus filed with
the Securities and Exchange Commission , a copy of which may be obtained
from Maxim Group LLC, 405 Lexington Avenue, New York, New York 10174 .
Star Maritime Acquisition Corporation (the
"Company") (AMEX: SEA.

Crane Co. Elects New Director

) as a director of Crane
Co.
R.
Founded in 1855, Crane provides products and solutions to customers in the
aerospace, electronics, hydrocarbon processing, petrochemical, chemical, power
generation, automated merchandising, transportation and other markets.craneco.