DRYSHIPS ANNOUNCES DAY OF 2011 ANNUAL GENERAL MEETING
OF SHAREHOLDERS

ATHENS, GREECE – August 1, 2011 - DryShips Inc. (NASDAQ: DRYS) (the “Company” or “DryShips”), a global provider of marine transportation services for drybulk and petroleum cargoes and off-shore contract drilling oil services, announced today that the Company’s 2011 Annual General Meeting of Shareholders (the “Annual Meeting”) will be held at the Company’s offices located at 80 Kifissias Avenue, 12125, Amaroussion, Athens, Greece on Tuesday, September 13, 2011 at 1:00 p.m., local time.

The Company’s board of directors has fixed the close of business on Friday, August 5, 2011 as the record date for the determination of the shareholders entitled to receive notice and to vote at the Annual Meeting or any adjournments or postponements thereof.

Formal notice of the Annual Meeting and the Company’s proxy statement are expected to be sent to shareholders on or about Wednesday, August 10, 2011.

About DryShips
DryShips Inc., based in Greece, is an owner of drybulk carriers and tankers that operate worldwide. Through its majority owned subsidiary, Ocean Rig UDW Inc., DryShips owns and operates 9 offshore ultra deepwater drilling units, comprising of 2 ultra deepwater semisubmersible drilling rigs and 7 ultra deepwater drillships, 4 of which remain to be delivered to Ocean Rig UDW Inc. during 2011 and 2013. DryShips owns a fleet of 37 drybulk carriers (including newbuildings), comprising 9 Capesize, 26 Panamax and 2 Supramax, with a combined deadweight tonnage of over 3.4 million tons, and 12 tankers (including newbuildings), comprising 6 Suezmax and 6 Aframax, with a combined deadweight tonnage of over 1.6 million tons.

DryShips’ common stock is listed on the NASDAQ Global Select Market where it trades under the symbol “DRYS.” Visit the Company’s website at www.dryships.com.

DryShips Inc. press release