Poseidon Containers Launches Initial Public Offering

ATHENS, GREECE--(Marketwired - Jul 21, 2015) - Poseidon Containers Holdings Corp. ("Poseidon Containers" or the "Company") announced today the commencement of its initial public offering of 15,380,000 common shares. The Company will grant the underwriters a 30-day option to purchase up to 2,307,000 additional common shares. The estimated price range for the offering is $14.00 to $16.00 per common share.

The Company expects to use the net proceeds of the offering to fund a portion of the contracted purchase price of four containerships that it has agreed to acquire and to fund either (i) a portion of the purchase price of additional high specification or new design fuel-efficient containerships or (ii) the Company's acquisition of two additional containerships and the newbuilding contracts for the construction of two further containerships. Any amounts not used for such purposes are expected to be used for general corporate purposes.

The offering is being made pursuant to a registration statement on Form F-1 (File No. 333-204968), including a prospectus therein, previously filed with the U.S. Securities and Exchange Commission (the "SEC"). The Company has applied to list its common shares on the New York Stock Exchange under the symbol "PCON."

Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., UBS Securities LLC, Citigroup Global Markets Inc., Jefferies LLC, and ABN AMRO Securities (USA) LLC are acting as joint book-running managers for the initial public offering. DVB Capital Markets LLC, Credit Agricole Securities (USA) Inc., and UniCredit Capital Markets LLC are acting as co-managers.

The offering will be made only by means of a prospectus. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, when available, may be obtained from the offices of:

Morgan Stanley & Co. LLC
Attention: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014

Deutsche Bank Securities Inc.
Attention: Prospectus Group
60 Wall Street
New York, NY 10005
or by calling: (800) 503-4611
or by email: prospectus.cpdg@db.com

UBS Securities LLC
Attention: Prospectus Department
1285 Avenue of the Americas
New York, NY 10019
or by calling: (888) 827-7275

Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
United States of America
or by calling: (800) 831-9146

Jefferies LLC
Attention: Equity Syndicate Prospectus Department
520 Madison Avenue, 2nd Floor
New York, NY 10022
or by calling: (877) 547-6340

ABN AMRO Securities (USA) LLC
Attention: Syndicate Department
100 Park Avenue, 17^th Floor
New York, NY 10017
or by calling: (917) 284-6800
or by email: CapitalmarketsUSA@abnamro.com.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. The securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities issuable pursuant to the registration statement, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Poseidon Containers Holdings Corp.

Poseidon Containers is an independent owner and operator of containerships with a diversified and fuel-efficient fleet of containerships. The Company's fleet of 19 containerships consists of five Handymax vessels, two Panamax vessels and 12 Post-Panamax vessels, of which three are new-designs, with an aggregate carrying capacity of 95,717 TEU and a TEU-weighted average age of approximately 11.5 years.

Forward-Looking Statements

This press release contains "forward looking statements". Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "should" and similar expressions are forward looking statements. These statements are not historical facts but instead represent only the Company's belief regarding future results, many of which, by their nature are inherently uncertain and outside of the Company's control. Actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect future results, see the discussion in the Company's registration statement on Form F-1 (File No. 333-204968), including a prospectus therein, as amended, under the heading "Risk Factors." The Company does not assume any obligation to update the information contained in this press release.