Euroseas Ltd. Declares Quarterly Dividend

08/4/09 Maroussi, Athens, Greece - August 04, 2009 - Euroseas Ltd. (NASDAQ:ESEA), owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that its Board of Directors has declared a dividend of $0.10 per common share for the second quarter of 2009. The dividend is payable on September 4, 2009 to all the shareholders of record as of August 27, 2009.

Aristides Pittas, Chairman and CEO of Euroseas commented: "We are pleased to declare our 16th consecutive dividend. This dividend indicates our ability and commitment to provide our shareholders with meaningful dividends throughout market cycles without compromising future growth opportunities. Continuing our fleet expansion program that we started in the beginning of 2009 as part of which we bought to date three modern bulkers we continue to explore opportunities to further grow our fleet taking advantage of the prevailing lower asset values."


About Euroseas Ltd.

Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 136 years. Euroseas trades on the NASDAQ Global Market under the ticker ESEA.

Euroseas operates in the dry cargo, drybulk and container shipping markets. Euroseas` operations are managed by Eurobulk Ltd., an ISO 9001:2000 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements.

The Company has a fleet of 17 vessels, including 4 Panamax drybulk carriers, 1 Handymax drybulk carrier, 1 Handysize drybulk carrier, 3 Intermediate container ships, 5 Handysize container ships, 2 Feeder container ships and a multipurpose dry cargo vessel. Euroseas` 6 drybulk carriers have a total cargo capacity of 370,499 dwt, its 10 container ships have a cargo capacity of 17,787 teu and its 1 multipurpose vessel has a cargo capacity of 22,568 dwt or 950 teu.

Euroseas Ltd. Press Release