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Dryships Announces Closing Of Private Offering

ATHENS, GREECE – April 28, 2011 - DryShips Inc. (NASDAQ: DRYS) (the “Company” or “DryShips”), a global provider of marine transportation services for drybulk and petroleum cargoes and off-shore contract drilling oil services, announced the closing of the sale of $500 million aggregate principal amount of 9.5% Senior Unsecured Bonds Due 2016 (the “Bonds”) offered by its majority-owned subsidiary Ocean Rig UDW Inc.