Euroseas Announces Charter Agreements for Container Ships

Euroseas Ltd. an owner and operator of drybulk carriers, container ship and multipurpose vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced that subsidiaries of the Company have entered into one year time charterer extensions for two of its containership vessels, the M/V Ninos and the M/V Despina P.

The M/V Ninos, a 1,169 teu, 1990 built feeder container ship, has extended its time charter for an additional one-year at a gross daily rate of $13,175, $375 per day higher than the present charter rate. The charter extension will commence on April 29, 2008. The M/V Despina P a 1,932 teu 1990 built handysize container ship, has entered in a time charter for one year at a gross daily rate of $15,250 representing a $500 per increase over the daily rate of its current short term charter. The charter will commence on February 19th 2008.