DryShips Completes Acquisition of Ocean Rig

DryShips Inc. announced that Primelead Limited, a wholly owned subsidiary of DryShips Inc., has effected a compulsory transfer of all remaining shares in Ocean Rig ASA and as a consequence of the compulsory transfer and cancellation of the treasury shares held by Ocean Rig ASA, Primelead Limited is owner of 100% of the shares in Ocean Rig ASA.
As of July 10th, 2008 Primelead Limited controls 163,611,380 shares, equivalent to 100% of the shares and votes in Ocean Rig ASA, calculated based on an issued share capital of 170,374,980 shares less 6,763,600 treasury shares, which have been cancelled and will be deleted on or about the third quarter of 2008.