STAR BULK CARRIERS CORP. PROVIDES DETAILS FOR THE PAYMENT OF THE THIRD QUARTER 2008 DIVIDEND

ATHENS, GREECE, November 28, 2008 - Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (Nasdaq: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes provided today details on the payment of dividend for the quarter ended September 30, 2008, as follows.

On November 17, 2008, the Company declared a cash and stock dividend totaling $0.36 per common share for the quarter ended September 30, 2008. The dividend payment consists of a cash portion in the amount of $0.18 per share with the remaining $0.18 per share payable in the form of newly issued common shares based on the volume weighted average price of the Company's shares on the NASDAQ Global Market during the five trading days before the ex-dividend date or November 25, 2008,

The Company announces today that based on the volume weighted average price of $2.3024 of the Company's shares on the NASDAQ Global Market during the five trading days prior to the ex-dividend date or November 25, 2008, the stock portion of the quarterly dividend is determined to be equal to 0.078179 shares for every share held as of the record date November 28, 2008. The Transfer Agent has advised that due to the Thanksgiving holiday in the United States, payment of both the cash and stock portions of the dividend will be effected on or about December 5, 2008.

About Star Bulk
Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and is headquartered in Athens, Greece. Its common stock and warrants trade on the Nasdaq Global Market under the symbols "SBLK" and "SBLKW" respectively. Currently, Star Bulk has an operating fleet of twelve dry bulk carriers. The total fleet consists of four Capesize, and eight Supramax dry bulk vessels with an average age of approximately 9.5 years and a combined cargo carrying capacity of 1,106,250 deadweight tons.

Star Bulk Carriers Corp.