Excel Maritime Announces Results

Excel Maritime Carriers Ltd. (NYSE: EXM) announced the results of the annual general meeting of its shareholders. At the meeting the following proposals were approved and adopted: the election of seven Directors of the Company; the appointment of Ernst & Young as the Company’s independent auditors for the fiscal year ending December 31, 2006; an amendment to the Company’s Articles of Incorporation as set forth in proposal one as described in the Proxy Statement for the Annual General Meeting. Excel Maritime Carriers Ltd. is an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, such as iron ore, coal and grains, as well as bauxite, fertilizers and steel products.