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Global Ship Lease Reports Results For The Fourth Quarter Of 2012

Dividend

Under the terms of the waiver of the requirement to perform the Leverage Ratio test, Global Ship Lease is not currently able to pay a dividend on common shares.

Change in Board of Directors

As of March 8, 2013, Jeffrey Pribor stepped down as a Director of the Company in order to dedicate his time and attention to his new role at Jefferies & Co. as Global Head of Maritime Investment Banking.  Global Ship Lease's Board of Directors now consists of four members, the majority of whom are independent.

Michael Gross, Chairman of the Company's board of Directors, commented, "We would like to thank Jeff for his years of service and contribution as a member of Global Ship Lease's Board of Directors. We wish him the best in his future endeavors."

Fleet

The following table provides information, as at December 31, 2012, about the fleet of 17 vessels chartered to CMA CGM.

        Remaining Earliest Daily
        Charter Charter Charter
Vessel Capacity Year Purchase Term (2) Expiry Rate
Name  in TEUs (1) Built by GSL  (years) Date $
Ville d'Orion 4,113 1997 Dec 2007 0.4 May 1, 2013 9,962
Ville d'Aquarius 4,113 1996 Dec 2007 0.4 May 1, 2013 9,962
CMA CGM Matisse 2,262 1999 Dec 2007 4.0 Sept 21, 2016 18,465
CMA CGM Utrillo 2,262 1999 Dec 2007 4.0 Sept 11, 2016 18,465
Delmas Keta 2,207 2003 Dec 2007 5.0 Sept 20, 2017 18,465
Julie Delmas 2,207 2002 Dec 2007 5.0 Sept 11, 2017 18,465
Kumasi 2,207 2002 Dec 2007 5.0 Sept 21, 2017 18,465
Marie Delmas 2,207 2002 Dec 2007 5.0 Sept 14, 2017 18,465
CMA CGM La Tour 2,272 2001 Dec 2007 4.0 Sept 20, 2016 18,465
CMA CGM Manet 2,272 2001 Dec 2007 4.0 Sept 7, 2016 18,465
CMA CGM Alcazar 5,089 2007 Jan 2008 8.0 Oct 18, 2020 33,750
CMA CGM Château d'If 5,089 2007 Jan 2008 8.0 Oct 11, 2020 33,750
CMA CGM Thalassa 11,040 2008 Dec 2008 13.0 Oct 1, 2025 47,200
CMA CGM Jamaica 4,298 2006 Dec 2008 10.0 Sept 17, 2022 25,350
CMA CGM Sambhar 4,045 2006 Dec 2008 10.0 Sept 16, 2022 25,350
CMA CGM America 4,045 2006 Dec 2008 10.0 Sept 19, 2022 25,350
CMA CGM Berlioz 6,621 2011 Aug 2009 8.8 May 28, 2021 34,000
             
(1)  Twenty-foot Equivalent Units.
(2) As at December 31, 2012. Plus or minus 90 days (22 days for Ville d'Orion & Ville d'Aquarius) at charterer's option.

New charters came into effect in September 2012 for Ville d'Aquarius and Ville d'Orion. They expire May 23, 2013 plus or minus 22 days at charterer's option and are at a rate of $9,962 per vessel per day.

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