Star Bulk Acquires Capesize Vessel Star Ypsilon Expanding Its Fleet to Thirteen Vessels

ATHENS, GREECE–(MARKET WIRE)–Jun 3, 2008 — Star Bulk Carriers Corp. (NasdaqGM:SBLK – News), announced today that it has entered into a definitive agreement to acquire the Capesize bulk carrier Falcon Cape, of 150,940 dwt, built in Japan in 1991, for approximately $87.2 million. The acquisition will be financed through a combination of company cash and bank debt. The vessel is to be renamed Star Ypsilon and is scheduled to be delivered to Star Bulk within August/September 2008.

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