Danaos Corporation adds two new 4,253 TEU containerships to its fleet.

Athens, Greece, September 23, 2008 – Danaos Corporation (NYSE: DAC) announced that yesterday and on July 4, 2008, it took delivery of two containerships; the Zim Sao Paolo and the Zim Rio Grande, respectively. Each vessel has a carrying capacity of 4,253 TEU. Both vessels were built by Samsung Heavy Industries and they were delivered approximately a month earlier than scheduled. Each vessel has already commenced its 12 year time charter at fixed rates immediately upon delivery.

"We enthusiastically welcome the latest deliveries," said Dr. Coustas, Chief Executive Officer of Danaos. "We are pleased to have taken delivery, approximately a month earlier than scheduled, of our two latest containerships from Samsung Heavy Industries. Both vessels have already commenced their 12 year time charter with Zim Line, one of the largest containership liner companies in the world. The vessels are chartered at an accretive fixed charter rate which provides Danaos with an effective hedge against market charter rate fluctuations. We expect that this addition to our fleet, along with another 32 vessels currently on order will contribute substantially to our distributable cash flow and net earnings and will continue to support a solid base for our dividend policy while boosting shareholder value.

About Danaos Corporation
Danaos Corporation is an international owner of containerships, chartering its vessels to many of the world's largest liner companies. Our current fleet of 39 containerships aggregating 155,123 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Danaos is the largest US listed containership company based on fleet size. Furthermore, the company has a contracted fleet of 32 additional containerships aggregating 234,962 TEU with scheduled deliveries up to 2011. The company's shares trade on the New York Stock Exchange under the symbol "DAC".

Danaos Corporation