ATHENS, GREECE--(Marketwired - Nov 23, 2016) - DryShips Inc. (NASDAQ: DRYS) (the "Company"), an international owner of drybulk
carriers and offshore support vessels, announced today that on November 22, 2016, it has successfully delivered the 2004 built
Panamax bulk carrier M/V Sorrento to an unaffiliated third party buyer for a gross price of $6.7 million.
Following this delivery the Company has now completed all of the five vessel sales previously announced on October 31,
2016.
About DryShips Inc.
The Company is an owner of drybulk carriers and offshore support vessels that operate worldwide. The Company owns a fleet of
13 Panamax drybulk carriers with a combined deadweight tonnage of approximately 1.0 million tons, and 6 offshore supply vessels,
comprising 2 platform supply and 4 oil spill recovery vessels.
The Company's common stock is listed on the NASDAQ Capital Market where it trades under the symbol "DRYS."
Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections
for forward-looking statements in order to encourage companies to provide prospective information about their business. The
Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is
including this cautionary statement in connection with such safe harbor legislation.
Forward-looking statements reflect the Company's current views with respect to future events, including the registered direct
offering, and financial performance and may include statements concerning plans, objectives, goals, strategies and other
statements.
The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon
further assumptions, including without limitation, management's examination of historical operating trends, data contained in the
Company's records and other data available from third parties. Although the Company believes that these assumptions were
reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond the Company's control, the Company cannot assure you that it will achieve or
accomplish these expectations, beliefs or projections.
Important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the
forward-looking statements include the failure to consummate the registered direct offering, the strength of world economies and
currencies, general market conditions, including changes in charter rates and vessel values, failure of a seller to deliver one
or more vessels, failure of a buyer to accept delivery of a vessel, inability to procure acquisition financing, default by one or
more charterers of our ships, changes in demand for drybulk commodities, changes in demand that may affect attitudes of time
charterers, scheduled and unscheduled drydocking, changes in our voyage and operating expenses, including bunker prices,
dry-docking and insurance costs, changes in governmental rules and regulations, changes in our relationships with the lenders
under our debt agreements, potential liability from pending or future litigation, domestic and international political
conditions, potential disruption of shipping routes due to accidents, international hostilities and political events or acts by
terrorists.
Risks and uncertainties are further described in reports filed by DryShips Inc. with the SEC, including the Company's most
recently filed Annual Report on Form 20-F.