Dryships Announces Termination Of Agreement To Acquire Two Panamax Vessels

ATHENS, GREECE - November 30, 2009- DryShips Inc. (NASDAQ:DRYS) (the "Company" or "DryShips"), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced today that its previously announced agreement to acquire 2 Panamax vessels has been terminated. George Economou, Chief Executive Officer of the Company commented:

“The acquisition of the 2 Panamax vessels has been terminated since no period employment could be secured in the agreed timeframe to consummate the purchase with the sellers. The agreement to acquire the 2 Panamax vessels was terminated at no cost to the Company”.

About DryShips Inc.
DryShips Inc., based in Greece, is an owner and operator of drybulk carriers and offshore oil deep water drilling that operate worldwide. As of the day of this release, DryShips owns a fleet of 39 drybulk carriers comprising 7 Capesize, 30 Panamax and 2 Supramax, with a combined deadweight tonnage of over 3.4 million tons, 2 ultra deep water semisubmersible drilling rigs and 4 ultra deep water newbuilding drillships. DryShips Inc.'s common stock is listed on the NASDAQ Global Market where trades under the symbol "DRYS".

DryShips Inc.