Dryships Announces Fixed Period Charter for Four Vessels

DryShips, Inc., a global provider of marine transportation services for drybulk cargoes today announced that it has made the following agreements with unaffiliated third parties:

• To enter its 1999 built 73,688 dwt Panamax bulk carrier “M/V Ocean Crystal” into a time charter for a period of between six and eight months at a daily rate of $40,000. This new time charter commenced on March 31, 2007.

• To enter its 2001 built 170,662 dwt Capesize bulk carrier “M/V Alameda” into a time charter for a period of between 9 and 11 months at a daily rate of $73,000. This new time charter commenced on April 13, 2007.

• To enter its 1994 built 45,863 dwt Handysize bulk carrier “M/V Matira” into a time charter for a period of between 6 and 8 months at a daily rate of $32,300. This new time charter is expected to commence no later than April 20, 2007. • To enter its 1995 built 75,473 dwt Panamax bulk carrier “M/V Waikiki” into a time charter for a period of between 9 and 11 months at a daily rate of $36,750. This new time charter is expected to commenced on April 13, 2007.