Seanergy Maritime Holdings Corp. Completes its Acquisition of the Remaining Minority Interest in Maritime Capital Shipping Limited

September 16, 2010 – Athens, Greece – Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP; SHIP.W) announced today that the Company has successfully completed the previously announced acquisition of the 49% ownership interest in Maritime Capital Shipping Limited, of Bermuda (“MCS”). The Company acquired a 51% interest in MCS in May 2010.

As a result of the acquisition, Seanergy now owns 100% of MCS, increasing the size of the Company’s wholly owned fleet from six to 15 vessels. These 15 vessels, together with five additional vessels controlled by the Company through its interest in Bulk Energy Transport (Holdings) Limited (“BET”), bring the total Seanergy controlled fleet to 20 vessels. This fleet is comprised of four Capesize, three Panamax, two Supramax, one Handymax and ten Handysize dry bulk carriers and has a combined cargo-carrying capacity of approximately 1,292,544 dwt and an average fleet age of 12.8 years. Dale Ploughman, the Company’s Chairman and Chief Executive Officer, stated: “We are very pleased to announce the completion of the MCS share acquisition as scheduled. This is a strategic transaction for Seanergy as the Company now owns 100% of MCS and has increased the Company’s wholly owned fleet and revenue capability.

We are focusing now on the completion of the second transaction we recently announced, our acquisition of the minority stake BET, which we expect to close by November 1, 2010. This will expand Seanergy’s wholly owned fleet to 20 vessels. Our objective is to continue to build Seanergy into a leading player in the global shipping industry.”

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp., the successor to Seanergy Maritime Corp., is a Marshall Islands corporation with its executive offices in Athens, Greece. The Company is engaged in the transportation of dry bulk cargoes through the ownership and operation of dry bulk carriers.

The Company's initial fleet comprised two Panamax, two Supramax, one Handymax and one Handysize dry bulk carriers that Seanergy purchased and took delivery of in the third and fourth quarters of 2008 from companies associated with members of the Restis family. In August 2009, the Company acquired a controlling interest in Bulk Energy Transport (Holdings) Limited ("BET"), which owns four Capesize and one Panamax dry bulk carriers. In May 2010, the Company acquired a controlling interest in Maritime Capital Shipping Limited ("MCS"), which owns nine Handysize dry bulk carriers. In September 2010, the Company entered into definite agreements to acquire all minority stakes in its MCS and BET subsidiaries. The MCS acquisition was completed on September 15, 2010 and the BET acquisition is expected to close by November 1, 2010.

Following the completion of the BET acquisition, the Company will have a wholly owned fleet of 20 drybulk carriers (four Capesize, three Panamax, two Supramax and one Handymax and ten Handysize vessels) with a total carrying capacity of approximately 1,292,544 dwt and an average fleet age of 12.8 years.

The Company's common stock and warrants trade on the NASDAQ Global Market under the symbols "SHIP" and "SHIP.W", respectively.

Seanergy Maritime Corp. press release