DryShips Inc. Announces Date for the Release of First Quarter 2007 Results, Conference Call and Webcast

Earnings Release: Tuesday, May 29, 2007, After 4:00 p.m. EDT; Conference Call and Webcast: Wednesday, May 30, 2007, at 9:00 a.m. EDT


ATHENS, GREECE -- (MARKET WIRE) -- May 22, 2007 --DryShips Inc. (NASDAQ: DRYS) announced today that it will release its results for the first quarter ended March 31, 2007 after the market closes in New York on Tuesday, May 29, 2007.

DryShips' management team will host a conference call on Wednesday, May 30, 2007, at 9:00 a.m. Eastern Daylight Time (EDT) to discuss the Company's financial results.

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 US), 0(800) 953-0329 (from the UK) or +(44) 1452 542 301 (from outside the US). Please quote "DryShips."

In case of any problem with the above numbers, please dial 1(866) 223 0615 (from the US), 0(800) 694-1503 (from the UK) or +(44) 1452 586-513 (from outside the US). Quote "DryShips."

A replay of the conference call will be available until June 6th, 2007.

The United States replay number is 1(866) 247 4222; from the UK 0(800) 953-1533; the standard international replay number (+44) 1452-550 000 and the access code required for the replay is: 2133051#.

Slides and audio webcast:

There will also be a simultaneous live webcast over the Internet through the DryShips Inc. website (www.dryships.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

About DryShips Inc.

DryShips Inc. is an international provider of drybulk carriers. Headquartered in Athens, Greece, DryShips owns and operates a fleet of 34 drybulk carriers comprising 4 Capesize, 25 Panamax, 3 Handymax and 2 newbuilding Panamax vessels, with a combined deadweight tonnage of approximately 2.7 million.

DryShips Inc.'s common stock is listed on NASDAQ Global Market where it trades under the symbol "DRYS."

Visit our website at www.dryships.com

Contact Information: Company Contact: Gregory Zikos Chief Financial Officer DryShips Inc. Tel. 00 30 210 809 0513 E-mail: management@dryships.com Investor Relations / Media: Nicolas Bornozis Capital Link, Inc., New York Tel. 212-661-7566 E-mail: nbornozis@capitallink.com

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