SOURCE: FreeSeas

January 25, 2006 10:18 ET

George Gourdomichalis of FreeSeas to Participate in DryBulk CEO Virtual Forum on January 31st 2006

PIRAEUS, GREECE -- (MARKET WIRE) -- January 25, 2006 -- FreeSeas Inc. (NASDAQ: FREE), (NASDAQ: FREEW) and (NASDAQ: FREEZ), The Chairman and President of FreeSeas, George Gourdomichalis will be participating in a conference call to discuss the developments, prospects and outlook of the dry bulk sector with the executives of DryShips, Excel Maritime and Quintana Maritime. The discussion will be moderated by Charlotte Crosswell, Head of NASDAQ International/ Isabella Schidrich, Director for W. Europe, NASDAQ International. At the end of the virtual roundtable discussion, investors will be able to submit their own questions to the participating CEOs. The whole event is expected to last for about one hour.

The CEO Virtual Forum is organized by Capital Link, an international investor relations firm focusing on the shipping sector, in cooperation with NASDAQ.

Conference Call details:

Date and Time:

The conference call and roundtable discussion will take place on Tuesday, January 31, 2006 at 10:30 a.m. EST.

Access Numbers:

Investors can access the conference call and the forum discussion by dialing the following toll free numbers:

Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1866 819 7111 (from the US), 0800 953 0329 (from the UK) or +44 1452 542 301 (from outside the US). Please quote "DryBulk Forum."

In case of any problem with the above numbers, please dial 1866 869 2352 (from the US), 0800 694 1449 (from the UK) or +44 1452 560 304 (from outside the US). Quote "DryBulk Forum."

A telephonic replay of the conference call will be available until Friday, February 3, 2006 by dialing 1866 247 4222 (from the US), 0800 953 1533 (from the UK) or +44 1452 550 000 (from outside the US). Access Code: 2133051#

Webcast details:

A live -- and then archived -- webcast of the Forum can be accessed at the website of Capital Link at http://www.capitallinkforum.com/shipping/2006/ or at the website ofFreeSeas, www.freeseas.gr

Investors are urged to log into the conference call or the webcast 10 minutes in advance of the scheduled commencement time of 10:30 a.m. EST on Tuesday, January 31, 2006.

Transcript:

A transcript of the Forum discussion will be freely available within 48 hours from the date of the call. Investors can access and download the transcript at any of the above mentioned websites. They can also request that the transcript be e-mailed to them by registering on line at www.capitallink.com.

About FreeSeas Inc.

FreeSeas Inc. is a Marshall Islands corporation with principal offices in Piraeus, Greece. FreeSeas is engaged in the transportation of dry bulk cargos through the ownership and operation of drybulk vessels. Currently, it has a fleet of three Handysize vessels. FreeSeas common stock and warrants trade on the Nasdaq Capital Market under the symbols FREE, FREEW and FREEZ respectively. Risks and uncertainties are described in reports filed by FreeSeas Inc. with the US Securities and Exchange Commission, which can be obtained free of charge on the SEC's website at www.sec.gov.. For more information about FreeSeas Inc. please go to our corporate website www.freeseas.gr

Forward-Looking Statement

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for dry bulk vessels, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Contact Information

  • For further information please contact:
    Company Contact:
    Stathis D. Gourdomichalis
    Chief Financial Officer
    FreeSeas Inc.
    93 Akti Miaouli Street
    185 38 Piraeus, Greece
    Tel: 011-30-210-45-28-770
    Fax: 011-30-210-429-10-10

    E-Mail: Email Contact
    Email Contact
    www.freeseas.gr

    Investor Relations / Financial Media:
    Nicolas Bornozis
    President
    Capital Link, Inc.
    230 Park Avenue - Suite 1536
    New York, NY 10160, USA
    Tel: (212) 661-7566
    Fax: (212) 661-7526

    E-Mail: Email Contact
    www.capitallink.com