TOP SHIPS Inc. Announces Expiration of Bareboat Charter

ATHENS, GREECE – January 3, 2012 – 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 the expiration of the bareboat charter party of the MV PAPILLON. Following its redelivery, the vessel was renamed to "EVIAN".

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 Inc. press release