Experienced Ultra Deep Water Operator News

DryShips Inc. (NASDAQ: DRYS) announced that its 78% owned subsidiary Ocean Rig UDW Inc. took delivery of its newbuilding drillship, the Ocean Rig Corcovado. The Ocean Rig Corcovado is the first to be delivered of the four sister drillship vessels that are being constructed at Samsung Heavy Industries. The construction of all vessels is progressing well and according to schedule. The vessels are sixth generation advanced capability ultra-deep water drillships, each with a drilling capability of 10,000 feet. The naming ceremony of the first two vessels, Ocean Rig Corcovado and Ocean Rig Olympia, was held in December 2010, at Samsung shipyard.