Excel Maritime Carriers Ltd. - Press Release

Athens, Greece –May 23, 2013

Excel Maritime Carriers Ltd. (NYSE: EXM) (the “Company”) announced today that it received a letter from NYSE on May 16, 2013, notifying the Company that it is currently not in compliance with Rule 802.01E of the NYSE Listed Company Manual because it had not filed its annual report on Form 20-F for the period ended December 31, 2012 in a timely manner. Under the NYSE rules, the Company has until November 15, 2013, to file its annual report on Form 20-F, subject to continuing oversight and monitoring by the NYSE. As previously announced, the Company has not filed its Form 20-F due to ongoing restructuring discussions with its lenders as well as investors and strategic parties.

About Excel Maritime Carriers Ltd.
Excel is an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, such as iron ore, coal and grains, as well as bauxite, fertilizers and steel products. Excel currently owns and operates a fleet of 39 vessels (seven Capesize, 14 Kamsarmax, 14 Panamax, two Supramax and two Handymax vessels), one of which, a Capesize vessel, is owned by a joint venture in which Excel holds a 71.4% interest, with a total carrying capacity of approximately 3.6 million DWT. Excel’s Class A common shares have been listed since September 15, 2005 on the New York Stock Exchange (NYSE) under the symbol EXM and, prior to that date, were listed on the American Stock Exchange (AMEX) since 1998. For more information about Excel, please go to its corporate website www.excelmaritime.com.

Excel Maritime Carriers Ltd. press release