Poseidon Containers Announces Suspension of Its Initial Public Offering

ATHENS, GREECE--(Marketwired - Aug 7, 2015) - Poseidon Containers Holdings Corp. ("Poseidon Containers" or the "Company") announced today that, due to current unfavorable market conditions, it has suspended its previously announced initial public offering in the United States of the Company's common shares, par value $0.01 per share.

A registration statement on Form F-1 (File No. 333-204968) relating to the common shares has been filed with the U.S. Securities and Exchange Commission (the "SEC") and has been declared effective. The registration statement is available on the SEC's website at www.sec.gov. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities issuable pursuant to the registration statement, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains "forward-looking statements." Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only the Company's belief regarding future results, many of which, by their nature are inherently uncertain and outside of the Company's control. Actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect future results, see the discussion in the Company's registration statement on Form F-1 (File No. 333-204968), including a prospectus therein, as amended, under the heading "Risk Factors." The Company does not assume any obligation to update the information contained in this press release.