DryShips Agreements with Nord LB, West LB

Thursday, October 15, 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 signed agreements with Nord LB and West LB on waiver terms for $116m and $67m respectively of our outstanding debt.

George Economou, Chairman and Chief Executive Officer, commented: "I am pleased to report another set of waivers from our banks who remain extremely supportive of DryShips. We are now left with $187.5 million of outstanding debt, where constructive discussions with the banks continue for waivers and we expect to have those concluded shortly."

(www.dryships.com)

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