Contact Information: Company Contact: E-Mail: management@dryships.com Investor Relations / Media: Nicolas Bornozis Capital Link, Inc., New York Tel. 212-661-7566 E-mail: dryships@capitallink.com
DryShips Inc. Acquires 28,506,464 Additional Shares and Now Controls 66.6% of Ocean Rig ASA
| Source: DryShips Inc.
ATHENS, GREECE--(Marketwire - April 25, 2008) - DryShips Inc. (NASDAQ : DRYS ) today announced
that it has purchased 28,506,464 additional shares of Ocean Rig ASA (OSE : OCR ) at a price of NOK 45 per share. DryShips Inc. now owns 113,539,687
shares or 66.6% of the shares and votes in Ocean Rig ASA. The ownership of
66.67% of the shares and votes in Ocean Rig ASA gives the company effective
control over matters requiring shareholder vote such as the election of
directors, the purchase or disposition of assets, mergers and application
for delisting from the stock exchange. DryShips will also have the power to
approve major financial proposals such as the amount of dividends and the
issuance of new equity securities. As previously announced, Mr. George
Economou holds 4.4% of the shares and votes in Ocean Rig ASA.
About DryShips Inc.
DryShips Inc. is an international provider of drybulk carriers.
Headquartered in Athens, Greece, DryShips currently owns and operates a
fleet of 46 drybulk carriers comprising 4 Capesize, 32 Panamax, 2 Supramax
and 8 newbuilding Panamax vessels, with a combined deadweight tonnage of
over 4 million tons.
DryShips Inc.'s common stock is listed on the NASDAQ Global Market where it
trades under the symbol "DRYS."
Visit our website at www.dryships.com
Forward-Looking Statements
Matters discussed in this release may constitute forward-looking
statements. Forward-looking statements reflect our current views with
respect to future events and financial performance and may include
statements concerning plans, objectives, goals, strategies, future events
or performance, and underlying assumptions and other statements, which are
other than statements of historical facts.
The forward-looking statements in this release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, management's examination of historical
operating trends, data contained in our records and other data available
from third parties. Although DryShips Inc. believes that these assumptions
were reasonable when made, because these assumptions are inherently subject
to significant uncertainties and contingencies which are difficult or
impossible to predict and are beyond our control, DryShips Inc. cannot
assure you that it will achieve or accomplish these expectations, beliefs
or projections.