Paragon Shipping Announces Date For Q1

Press Release May 20, 2011

Earnings Release: Thursday, May 26, 2011, After Market Close
Conference Call and Webcast: Friday, May 27, 2011, at 10:00am EDT

Paragon Shipping Inc. (NYSE: PRGN), a global shipping transportation company specializing in drybulk cargoes, announced today that it will release its results for the first quarter ended March 31, 2011, after the market closes in New York on Thursday, May 26, 2011. Paragon’s management team will host a conference call to discuss the Company's financial results on Friday, May 27, 2011, at 10:00am EDT.

Conference Call details:
Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1(866) 819-7111 (from the USA), 0(800) 953-0329 (from the UK), +(44) (0) 1452 542 301 (from outside the US) or 0080 044 131 378 (from Greece). Please quote "Paragon."

A replay of the conference call will be available until June 3, 2011. The United States replay number is 1(866) 247-4222; from the UK 0(800) 953-1533; the standard international replay number is (+44) (0) 1452 550 000 and the access code required for the replay is: 55939564#.

Source: Paragon Shipping Inc.