Diana Containerships Inc. Announces Pricing of Public Offering of Common Shares and a Concurrent Private Placement to Diana Shipping Inc.

10/6/2011

ATHENS, GREECE, June 10, 2011 — Diana Containerships Inc. (the “Company”) (Nasdaq: DCIX) today announced that it has priced its public offering of 14,250,000 shares of its common stock at a price to the public of $7.50 per share. The proceeds of the offering and a $20 million concurrent private placement of approximately 2,666,667 common shares to Diana Shipping Inc. are expected to be used to repay in full the Company’s existing secured term loan facility with DnB NOR Bank ASA, to fund the balance of the acquisition costs of three containerships that the Company has agreed to acquire, and the balance for additional containership acquisitions and general corporate purposes, including working capital. The offering is expected to close on June 15, 2011. The underwriters have a 30-day option to purchase up to an additional 2,137,500 shares of common stock to cover over-allotments, if any.

Wells Fargo Securities, BofA Merrill Lynch and Jefferies & Company, Inc. are acting as joint-book running managers for the offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on June 9, 2011. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering is being made by means of a prospectus. A final prospectus related to the offering will be filed with the U.S. Securities and Exchange Commission.

When available, copies of the final prospectus relating to the offering may be obtained from the offices of Wells Fargo Securities, Attn: Equity Syndicate Dept., 375 Park Avenue, New York, New York 10152, Telephone: (800) 326-5897, E-mail: cmclientsupport@wellsfargo.com, BofA Merrill Lynch, Attn: Prospectus Department, 4 World Financial Center, New York, New York 10080, E-mail: dg.prospectus_requests@baml.com and Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY 10022, at 877-547-6340, E-mail: Prospectus_Department@Jefferies.com.

Diana Containerships Inc. press release