Danaos Corporation Appoints Evangelos Chatzis as Chief Financial Officer

ATHENS, GREECE--(Marketwire - Jul 25, 2011) - Danaos Corporation (NYSE: DAC), a leading international owner of containerships, announced that the Board of Directors of the Company has appointed Mr. Evangelos Chatzis to the position of Chief Financial Officer, effective July 22, 2011.

Evangelos Chatzis has over 16 years of experience in corporate finance and the shipping industry and has been with Danaos since early 2005 where he has served as Treasurer and Deputy Chief Financial Officer. During his years with Danaos he has been actively engaged in the company's financial management, the company's initial public offering in the United States, and has led a variety of projects, the latest being the successfully concluded comprehensive financing plan of the company. Throughout his career he has developed considerable experience in operations, corporate finance, treasury and risk management and international business structuring.

Prior to joining Danaos, Evangelos was the Chief Financial Officer of Globe Group of Companies, a public company in Greece engaged in a diverse scope of activities including dry bulk shipping, the textile industry, food production & distribution and real estate. During his years with Globe Group, he was involved in mergers and acquisitions, corporate restructurings and privatizations.

He holds a Bachelor of Science degree in Economics from the London School of Economics, a Master of Science degree in Shipping & Finance from City University Cass Business School, as well as a post-graduate diploma in Shipping Risk Management from IMD Business School.

Dr. John Coustas, President & Chief Executive Officer of Danaos, commented: "We are pleased to announce the appointment of Evangelos as the new Chief Financial Officer of the company. Evangelos has been a valuable and trusted member of the management team for almost 7 years and brings solid experience and continuity to the post, having been actively involved in the company's initial public offering and its transformation and growth since then. We look forward to his contribution towards further solidifying the company's future and wish him every success in his new duties."

About Danaos Corporation
Danaos Corporation is an international owner of containerships, chartering its vessels to many of the world's largest liner companies. Our current fleet of 56 containerships aggregating 265,559 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Danaos is one of the largest US listed containership companies based on fleet size. Furthermore, the company has a contracted fleet of 9 additional containerships aggregating 99,620 TEU with scheduled deliveries up to 2012. The company's shares trade on the New York Stock Exchange under the symbol "DAC."

Visit our website at www.danaos.com