0001144204-10-015889 Sample Contracts

OVERSEAS SHIPHOLDING GROUP, INC. 8.125% Senior Notes due 2018 Underwriting Agreement
Overseas Shipholding Group Inc • March 26th, 2010 • Deep sea foreign transportation of freight • New York

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuers or any underwriter will arrange to send you the prospectus if you request it by contacting any of the Joint Book-Running Managers:

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