SOURCE: Excel Maritime Carriers

September 15, 2005 08:00 ET

Excel Maritime Carriers (EXM) Commences Trading on the New York Stock Exchange

PIRAEUS, GREECE -- (MARKET WIRE) -- September 15, 2005 -- Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that it completed the transfer to the New York Stock Exchange (NYSE) and its shares commence trading on NYSE as of today. The shares trade under the same symbol -- EXM.

Christopher Georgakis, the CEO of Excel Maritime, commented: "This is a very important moment in our company's continued development. We believe that being part of the New York Stock Exchange, the leading U.S. market of choice for companies from all over the world, will improve the liquidity and visibility of our company with tangible benefits for our shareholders."

About Excel Maritime Carriers Ltd

The Company is an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, such as iron ore, coal and grains, as well as bauxite, fertilizers and steel products. The company's current fleet consists of 18 vessels (one Capesize, ten Panamax and seven Handymax vessels) with a total carrying capacity of 1,112,070 dwt. The Company was incorporated in 1988 and its common stock was listed on the American Stock Exchange (AMEX) since 1998. As of September 15, 2005 Excel Maritime is listed on the New York Stock Exchange (NYSE), trading under the symbol EXM. For more information about the company, please go to our corporate website www.excelmaritime.com.

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

  • Contact:

    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

    Company:
    Christopher Georgakis
    Chief Executive Officer
    Excel Maritime Carriers Ltd.
    67 Akti Miaouli Street
    185 38 Piraeus, Greece
    Tel: 011-30-210-45-98-692
    Fax: 011-30-210-42-82-628

    E-Mail: Email Contact
    www.excelmaritime.com