DryShips Inc. Mandatory Offer Period for the acquisition of the remaining shares of Ocean Rig ASA

May 14th, 2008, ATHENS, GREECE - DryShips Inc. (NASDAQ: DRYS) today announced that the Mandatory Offer period for the acquisition of all the outstanding shares of Ocean Rig ASA commenced today and the appropriate Offer Document has been filed with the Oslo Stock Exchange.

The mandatory offer period will end on 11th June, 2008. As of 14 May 2008, Primelead Limited, a wholly owned subsidiary of DryShips, Inc., owns 128,035,373 shares in Ocean Rig or 75.1% of the shares and votes in Ocean Rig ASA.

About DryShips Inc.
DryShips Inc., based in Greece, is an owner and operator of drybulk carriers that operate worldwide. As of the day of this release, DryShips owns a fleet of 47 drybulk carriers comprising 4 Capesize, 32 Panamax, 2 Supramax, 9 newbuilding drybulk vessels, with a combined deadweight tonnage of over 4 million tons.

DryShips Inc.'s common stock is listed on the NASDAQ Global Market where it trades under the symbol "DRYS".

DryShips Inc. Press Release