Euroseas Ltd. - Newsflash

11 December 2010

We can confirm the safe release of M/V Eleni P from the Somali pirates. The vessel departed the Somali coast early hours Saturday 11th December and is sailing under her own power to a port of refuge.

We can also confirm that all the crew are as well as it can be expected after their ordeal and they are going to be re-united with their families a few days after arrival at the port of refuge.

The company is delighted to report the safe release of the vessel and all the crew and wishes to express the thanks and appreciation to all crew members and their families for the bravery they showed and their support for and confidence in the company throughout this difficult period.

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 Select 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 16 vessels, including 4 Panamax drybulk carriers and 1 Handymax drybulk carrier, 3 Intermediate containership, 5 Handysize containerships, 2 Feeder containerships and a multipurpose dry cargo vessel. Euroseas` 5 drybulk carriers have a total cargo capacity of 331,808 dwt, its 10 containerships have a cargo capacity of 17,787 teu and its multipurpose vessel has a cargo capacity of 22,568 dwt or 950 teu.

Euroseas Ltd. Press Release