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DRYSHIPS INC. ANNOUNCES AGREEMENTS TO PURCHASE EIGHT DRYBULK VESSELS
August 6, 2007 Athens, Greece, DryShips, Inc., (NASDAQ:DRYS), a global provider of marine
transportation services for drybulk cargoes, today announced that it has entered into agreements
with unaffiliated third parties to acquire:
One 2003 built, 51,201 dwt Supramax bulk carrier, scheduled to be delivered in the third
quarter of 2007. Upon delivery to DryShips, the vessel will commence a bareboat charter
back to the seller for a period of between 13 and 15 months at a daily bareboat charter
rate of $27,000.
One 2002 built, 74,204 dwt Panamax bulk carrier scheduled to be delivered in the fourth
quarter of 2007.
One 2004 built, 76,500 dwt Panamax bulk carrier scheduled to be delivered in the first
quarter of 2008.
Three 180,000 dwt Capesize bulk carriers under construction in S. Korea for delivery in
the second and fourth quarters of 2009 and the first quarter of 2010, respectively.
Two 82,000 dwt Kamsarmax bulk carriers under construction in China for delivery in the
first half of 2010.
The aggregate purchase price of the vessels is approximately $620 million. The Company
intends to finance the acquisition of the vessels mainly through operating cash and additional
borrowings.
Mr. George Economou, Chairman and CEO of DryShips Inc., commented: We are pleased to
expand our fleet at a time when there is robust demand for dry bulk shipping and freight rates are
at such attractive levels. With the latest acquisitions, we reaffirm our commitment to maintain a
leadership position in dry bulk shipping through accretive transactions, and our focus on
enhancing our earnings while creating shareholder value both in the short and long term.
About DryShips
DryShips Inc. is an international provider of drybulk cargo marine transportation services.
Headquartered in Athens, Greece, DryShips currently owns and operates a fleet of 35 drybulk
carriers comprising 5 Capesize, 27 Panamax, 1 Handymax and 2 newbuilding Panamax vessels,
with a combined deadweight tonnage of approximately 3 million tons.
DryShips Inc.'s common stock is listed on NASDAQ Global Market where it trades under the
symbol "DRYS".
www.dryships.com
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