Goldenport Holdings - Sale of Vessel

Athens, 06 May 2008

Goldenport Holdings Inc. ('Goldenport' or 'the Company'), (LSE: GPRT) the international shipping company that owns and operates a fleet of container and dry bulk vessels announces that it has concluded the sale of the 69,737 DWT, 1981-built bulk carrier 'Ios', to the unaffiliated third party 'East Sunrise Shipping Holding Limited' of Hong Kong, for a cash consideration of US$ 16.8 million. The vessel was delivered to the new owners along with the balance of the existing time charter at US$ 26,000 per day until June 2009.

'Ios' was fully depreciated to her scrap value with a net book value in the financial statements as at the day of the sale of US$ 3.7 million including the unamortized balance of dry-docking costs. Consequently, Goldenport Holdings realised a book profit of US$ 12.8 million net of commissions.

Goldenport will utilize the proceeds realised from the sale to fund future vessel acquisitions.

Captain Paris Dragnis, Chief Executive Officer of Goldenport, commented: 'The sale of 'Ios' is part of the Company's fleet growth, renewal strategy and maximising its profit potential. The profit from the sale of the fully depreciated vessel 'Ios, will allow us to fund further vessels acquisitions, expanding the economic life of our fleet'.

Overview of Goldenport

Goldenport is an international shipping company that owns a fleet of thirty-two container and dry-bulk vessels (after the sale of the bulk carrier vessel mentioned above) that transport cargo worldwide. The fleet consists of eighteen container vessels (including two new-build vessels with deliveries scheduled for 2010 and 2011) and fourteen dry-bulk carriers (including six new-build vessels with deliveries scheduled for 2008 and 2009). Goldenport is listed on the London

Stock Exchange under the ticker GPRT.

Source: Goldenport Holdings Inc