Euroseas Declares Quarterly Dividend

Press Release
Monday, May 16, 2011

Euroseas Ltd., (NASDAQ:ESEA) an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced today that the Company's Board of Directors has declared a dividend of $0.07 per common share for the first quarter of 2011. The dividend is payable on June 10, 2011 to all shareholders of record as of June 1, 2011. This is the 23rd consecutive quarterly dividend since the company accessed the capital markets in August 2005 and represents an increase of $0.01/share as compared to the dividend declared for the fourth quarter of 2010.

Furthermore, the company announced today that it will release its financial results for the first quarter ended March 31, 2011, on Thursday, May 19, 2011, after the market closes in New York. The next day, Friday, May 20, 2011, at 9:00 am EDT, the Company's management will host a conference call and webcast to discuss the results.


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