SOURCE: DryShips Inc.

March 16, 2006 10:28 ET

DryShips Fourth Quarter and Full Year 2005 Earnings Conference Call & Slides & Audio Webcast Presentation Today, Thursday, March 16, 2006 at 11:00 am EST

Conference Call and Webcast: Thursday, March 16, 2006 at 11:00 am EST

ATHENS, GREECE -- (MARKET WIRE) -- March 16, 2006 -- DryShips Inc. (NASDAQ: DRYS). The Company's management is hosting a conference call today, Thursday, March 16, 2006 at 11:00 am EST to discuss the Fourth Quarter and Full Year 2005 results which were released after the close of the market yesterday.

Conference Call details:

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 "DryShips."

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 "DryShips."

A telephonic replay of the conference call will be available until Friday, March 23rd, 2006 by dialling 1866 247 4222 (from the US), 0800 953 1533 (from the UK) or +44 1452 550 000 (from outside the US). Access Code: 2133051#

Slides and Audio Webcast:

There will also be a live -- and then archived -- webcast of the conference call, through the internet through the DryShips, Inc. website (www.dryships.com). Please go to the home page and click on the link "Fourth Quarter and Full Year 2005 Earnings Webcast." Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

Presentation Slides:

Please find attached the material which will be discussed during the conference call and webcast.

This material is available on the company's website (www.dryships.com) in the Investor Relations Section under Presentations.

You can also access a PDF file of this material directly by clicking on the link below (or by copying and pasting the link in your browser).

http://www.capitallink.com/DRYS031606.pdf

About DryShips, Inc.

DryShips Inc., based in Greece, is an owner and operator of drybulk carriers that operate worldwide. As of the day of this Release, DryShips owns a fleet of 27 drybulk carriers consisting 4 Capesize, 21 Panamax and 2 Handymax vessels, with a combined deadweight tonnage of approximately 2.3 million. DryShips is the second largest Panamax operator in the world.

DryShips Inc.'s common stock is listed on NASDAQ National Market where it trades under the symbol "DRYS."

Forward-Looking Statement:

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.

Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charterhire rates and vessel values, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydocking, changes in DryShips Inc.'s operating expenses, including bunker prices, dry-docking and insurance costs, or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by DryShips Inc. with the US Securities and Exchange Commission.

Visit our website at www.dryships.com

Contact Information

  • Company Contact:
    Christopher J. Thomas
    Chief Financial Officer
    DryShips Inc.
    Tel. 011-30-210-809-0570
    E-mail: finance@dryships.com

    Investor Relations / Media:
    Nicolas Bornozis
    Capital Link, Inc. ,New York
    Tel. 212-661-7566
    E-mail: nbornozis@capitallink.com