Overseas Shipholding Group, Inc. (NYSE:OSG) (the "Company" or "OSG"), as previously announced, is pursuing a spin-off of its international business and announced today key executive appointments for what will be an industry-leading international crude and product tanker company, International Seaways, Inc., once the transaction is complete. Following the spin-off, Lois K. Zabrocky will become president and chief executive officer of International Seaways, while Jeffrey D. Pribor will join International Seaways as chief financial officer. Mr. Pribor will report to Ms. Zabrocky. "Lois is a talented executive who has been with OSG almost 25 years," said Captain Ian T. Blackley, OSG's president and CEO. "I have worked closely with Lois for many years, and I am confident in her ability to lead International Seaways forward. As President of OSG's International Flag Strategic Business Unit, Lois has had P&L responsibility and played a major part in its strategic decision making. We are confident that she is the ideal executive to lead International Seaways as it embarks on an exciting new chapter." "It is an honor and privilege to lead International Seaways as it begins its journey as an independent public company," said Zabrocky. "I am delighted to be part of such an incredible team with a long history of providing safe, efficient and reliable transportation to our customers. With this as our platform, we are well positioned for continued success and I am committed to working with our Board and employees to maximize revenue, drive down costs and capture growth opportunities as we provide the highest quality service to our customers and deliver value for our shareholders." Zabrocky continued, "We are pleased to welcome Jeff as the chief financial officer of International Seaways. Jeff's extensive operational and financial management experience as CFO for a leading shipping company coupled with his wealth of maritime banking experience will complement and enhance our management strengths and capabilities. We are fortunate to have such a seasoned executive in this important role as we continue to drive International Seaways' global business."