HEIDMAR INC. / HEIDENREICH INNOVATIONS INC.

NEWS RELEASE

Fritz Heidenreich is leaving Heidmar

Norwalk, Connecticut

August 21, 2008 --- Heidmar Inc. (“Heidmar”) and Heidenreich Innovations LLC (“Heidenreich Innovations”) announced today that Fritz Heidenreich will be leaving Heidmar on September 1, 2008 to head the newly formed Heidenreich Innovations. In connection with Fritz Heidenreich’s departure, Heidmar will transfer the www.Q88.com and www.Baltic99.com websites to Heidenreich Innovations and will enter into a contract with the new company for consulting services.

The eventual departure of Fritz Heidenreich and transfer of the websites had been contemplated at the time that Heidmar was acquired by subsidiaries of Morgan Stanley Capital Group Inc. in September 2006.

Tim Brennan, President and CEO of Heidmar, said, “We wish Fritz every success with his new company. Computer innovations have been an important factor in the growth of Heidmar over the past 20 years. People and systems will continue to be our assets and we look forward to working closely with Heidenreich Innovations in the future.”

Fritz Heidenreich, President and CEO of Heidenreich Innovations, said, “It will be very difficult for me to leave Heidmar, where I have worked for the past 15 years, but I look forward to the opportunity to expand the questionnaire service and develop new products for both the wet and dry sectors of the shipping industry”.

Heidmar, through its offices in the United States, England, and Singapore, commercially operates a fleet of over 90 tankers. Heidmar is the general agent and commercial manager of five pools: Star Tankers Inc. (panamax/LR1 tankers between 55,000 and 75,000 DWT); Sigma Tankers Inc. (aframax/LR2 tankers between 90,000 and 120,000DWT); Dorado Tankers Pool Inc. (mid-range product tankers between 37,000 and 55,000 DWT); Marida Tankers Inc. (short-range product tankers between 10,000 and 18,000 DWT) and Blue Fin Tankers Inc. (suezmax tankers between 140,000 and 180,000DWT).

Heidenreich Innovations will operate from its new offices at 165 Mason Street in Greenwich, Connecticut. The Q88 website was launched in June 2001 and the Baltic99 website was launched in June 2008. There are currently 580 questionnaires available on these websites and are being used by over 390 ship owners, representing 4,900 vessels.