DryShips Appoints Nakhleh CFO

Sunday, October 18, 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 named Ziad Nakhleh as the Company's Chief Financial Officer effective November 1, 2009. This position was previously occupied on an interim basis by George Economou, Chairman and Chief Executive Officer.

Nakhleh, 37, has over 12 years of finance experience. From January, 2005 to September, 2008, he served as Chief Financial Officer of Aegean Marine Petroleum Network Inc., a publicly traded marine fuels logistics company listed on the New York Stock Exchange, where he led the company's $200m IPO in December 2006. During his tenure at Aegean, Nakhleh as well as managing the corporate finance and accounting aspects of the company, was extensively involved in maintaining investor confidence and contributing to the expansion of the company by way of corporate and asset acquisitions. For the past year, he was engaged in a consulting capacity to various companies in the shipping and marine fuels industries. Prior to his time with Aegean, Nakhleh was employed at Ernst & Young and Arthur Andersen in Athens. Nakhleh is a graduate of the University of Richmond in Virginia and is a member of the American Institute of Certified Public Accountants.

(www.dryships.com)

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