Dryships Inc. Continues Its Fleet Renewal

DryShips, Inc., a global provider of marine transportation services for dry bulk cargoes announced today the following:
• The company has entered into an agreement to purchase a 2001 built, 172,579
dwt Capesize bulk carrier, for US$152.25 million. The vessel will be delivered
charter free during the second quarter of 2008.
• The Company has entered into an agreement to sell the 1993 built, 149,475
dwt Capesize bulk carrier, MV Netadola for US$93.9 million. Delivery to the
new owners will take place during the first quarter of 2008. Once the sale is
concluded the Company expects to realize a gain of approximately US$62.2