Danaos Corporation Upgrades Vessel Sizes of its Jiangnan Order

Athens, Greece, July 17, 2007 – Danaos Corporation (NYSE: DAC) announced today that it has agreed with China Shipbuilding Trading Company Limited the upgrading of its earlier order for four 6,800 TEU containerships to four 8,400 TEU vessels and signed the amendments to the relevant shipbuilding contracts. These vessels will be built by the Shanghai Jiangnan Changxing Heavy Industry Company Limited and are expected to be delivered to Danaos during 2010.