Dryships Agreement on $1.1b of Debt

Friday, May 29, 2009

DryShips Inc. (NASDAQ:DRYS) announced that it has reached agreement on waiver terms with Deutsche Bank AG, lender and Mandated Lead Arranger on $1.125b facility. This facility covers drillships hull numbers 1865 and 1866 currently under construction at Samsung Heavy Industries. This agreement is subject to customary documentation provisions.

George Economou, Chairman and Chief Executive Officer, commented: “We are pleased to have reached this agreement on a very important credit facility for DryShips. We are delivering the waivers as promised and we hope to conclude discussions with the rest of the lenders in the near future”.

(www.dryships.com)

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