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    NASDAQ Closing Bell Ceremony
    April 2, 2007

    History

    GEORGE N. PITTAS BROTHERS AND COMPANY – PIRAEUS

    Sometime after the death of Nikolaos F. Pittas in 1913 the company was renamed after the eldest of his sons, George. The emblem of the family business became the 5-spiked star symbolizing the union of the five brothers (this star still forms the basis of Eurobulk’s emblem and is painted on all Eurobulk managed ship funnels). All 5 of them became captains and chief engineers and traveled on family owned ships exploiting them as best as they could.

    Aristides N. Pittas the youngest of the 5 had the innovative idea of establishing an office ashore and coordinating the family business and some vessel requirements such as cargo bookings and crewing needs from ashore. Thus the first family office was established in 1926 in Romania which was at the time a big commodity exporter mainly for grain and coal. During those times the family controlled vessels rose up to 10,000 dwt and were steam driven. World War II followed and most of the family run vessels were bombed, torpedoed and lost. However the family made it back to the ship management field mainly led by the two younger brothers Dimitrios and Aristides. Many of the children of this generation of our family followed their parents footsteps and formed the foundation of the third generation of the Pittas shipping tradition. They were initially represented by Nikos Pittas, son of Aristides, who catered for the family shipping interests during 1948 - 1960 through the offices of Lusi and Carras Shipping in London.

    Following is a list of vessels managed by the second generation of the Pittas family.

    S/S NIKOLAOS WAS TORPEDOED BY THE GERMANS AND WENT DOWN DURING THE FIRST WORLD WAR

    S/S ARTEMIS PITTAS
    THIS VESSEL WAS REQUISITIONED BY GERMAN AUTHORITIES DURING THE WORLD WAR II, WAS RENAMED TO S/S ADOLPH HITLER AND BOMBED AT MILOS ISLAND ON 21.03.43 FROM R.A.F.

    S/S POSEIDON
    PURCHASED WITH SEVERAL DAMAGES CAUSED BY FIRE. COST OF REPAIRS AMOUNTED TO ABOUT STG 7.000.
    TORPEDOED WITH ALL HANDS LOST IN A CONVOY FROM MEXICO TO ENGLAND IN 1940

    S/S MARINELLA









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