Seanergy Maritime Holdings Corp. Announces Sale
of Handymax Vessel

February 09, 2012

ATHENS, GREECE (Marketwire - Feb 9, 2012) Seanergy Maritime Holdings Corp. (the "Company") (NASDAQ: SHIP) announced today that it has signed a Memorandum of Agreement with an unaffiliated third party for the sale of its Handymax dry bulk carrier, the African Zebra for a gross price of $4.1 million.

The vessel is expected to be delivered to its new owners mid-February 2012.

The African Zebra is a 38,632 dwt Handymax bulk carrier built in 1985 and the Company plans to use the proceeds to reduce debt. The sale will result in a book loss of approximately $2.4 million.

Upon completion of sale of African Zebra, the Company's fleet will consist of ten Handysize, three Panamax, two Supramax and four Capesize dry bulk carriers with an average age of 13.7 years.

About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings 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 current fleet consists of 20 drybulk carriers (four Capesize, three Panamax, two Supramax, one Handymax and ten Handysize vessels) with a total carrying capacity of approximately 1,295,594 dwt and an average fleet age of 14 years.

The Company's common stock trades on the NASDAQ Global Market under the symbol "SHIP."

Seanergy Maritime Corp. press release