SOURCE: DryShips Inc.

September 20, 2007 09:00 ET

DryShips Inc. to Present at the Jefferies Shipping Conference in New York

ATHENS, GREECE--(Marketwire - September 20, 2007) - DryShips Inc. (NASDAQ: DRYS) announced today that George Economou, the company's Chairman, President, CEO and interim CFO, will be presenting at the Jefferies Fourth Annual Shipping Conference, which will take place in New York City on Wednesday, September 26, 2007 at 11:00 a.m. EDT.

A live and then archived audio webcast of the DryShips' presentation will be available on the Jefferies website at http://www.wsw.com/webcast/jeff19/drys. A PDF version will be also available on the DryShips corporate website at www.dryships.com in the Investor Relations section.

About DryShips Inc.

DryShips Inc. is an international provider of marine transportation services for drybulk commodities. Headquartered in Athens, Greece, DryShips currently owns and operates a fleet of 41 drybulk carriers comprising 5 Capesize, 28 Panamax, 1 Handymax and 7 newbuilding drybulk vessels, with a combined deadweight tonnage of approximately 3.7. million.

DryShips Inc.'s common stock is listed on NASDAQ Global 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 charter hire 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, drydocking 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

E-mail: management@dryships.com

Contact Information

  • Investor Relations / Media:
    Nicolas Bornozis
    Capital Link, Inc. (New York)
    Tel. 212-661-7566