Dryships Agreement with Nordea Bank

Friday, February 27, 2009

DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced that it has reached final agreement and received formal approval from Nordea Bank Finland Plc, DnB NOR Bank ASA and HSH Nordbank AG regarding the previously announced covenant waiver in connection with the $800m Primelead facility consistent with the terms previously announced on February 9, 2009.

George Economou, Chairman and Chief Executive Officer said, “We are delighted to have reached a definitive agreement with the three lenders on the Primelead facility. This agreement is a testament of the support of Nordea Bank Finland Plc, DnB NOR Bank ASA and HSH Nordbank AG to DryShips. These three lenders acting as agents or direct lenders represent 75% of the total loans outstanding of the Company”.

(www.dryships.com)

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