Dryships Reaches Agreement on Debt

Thursday, May 28, 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 agreement with DnB NOR on waiver terms for $86m of our outstanding debt. This agreement is subject to customary documentation.

George Economou, Chairman and Chief Executive Officer, commented, “We are delighted to have reached an agreement with DnB NOR on yet another facility. This facility covers two of our drybulk vessels. We continue to have constructive discussions with the remainder of our banks who are all very supportive of the company”.

(www.dryships.com)

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