TOP SHIPS Inc. Announces Waiver From Alpha Bank

ATHENS, GREECE – April 7, 2011 – TOP Ships Inc. (NasdaqGS: TOPS), an international maritime shipping company that provides transportation services for crude oil, petroleum products, and dry bulk commodities, announced today that it has obtained a waiver from Alpha Bank until February 28, 2012 in relation to the breach of certain financial covenants under the Alpha Bank credit facility.

About TOP Ships Inc.
TOP Ships Inc., is an international maritime shipping company that provides transportation services for crude oil, petroleum products, and dry bulk commodities. For more information about TOP Ships Inc., visit its website: www.topships.org.

Top Ships Press Release