Year Average TC Name Type Dwt Built Expiration Date ---------- ---------- ----- ----------------- Capesize Iron Miner Capesize 177,000 2007 February 2012 Kirmar Capesize 165,500 2001 April 2013 Iron Beauty Capesize 165,500 2001 May 2010 Lowlands Beilun Capesize 170,162 1999 May 2010 Sandra Capesize 180,000 2008 September 2010 (1) Total Capesize 5 858,162 Kamsarmax Iron Manolis Kamsarmax 82,300 2007 December 2010 Iron Brooke Kamsarmax 82,300 2007 December 2010 Iron Lindrew Kamsarmax 82,300 2007 December 2010 Coal Hunter Kamsarmax 82,300 2006 December 2010 Pascha Kamsarmax 82,300 2006 December 2010 Coal Gypsy Kamsarmax 82,300 2006 December 2010 Iron Anne Kamsarmax 82,000 2006 December 2010 Iron Vassilis Kamsarmax 82,000 2006 December 2010 Iron Bill Kamsarmax 82,000 2006 December 2010 Santa Barbara Kamsarmax 82,266 2006 December 2010 Ore Hansa Kamsarmax 82,229 2006 December 2010 Iron Kalypso Kamsarmax 82,204 2006 December 2010 Iron Fuzeyya Kamsarmax 82,229 2006 December 2010 Iron Bradyn Kamsarmax 82,769 2005 December 2010 ---------- Total Kamsarmax 14 1,151,497 Panamax Grain Harvester Panamax 76,411 2004 December 2010 Grain Express Panamax 76,466 2004 December 2010 Iron Knight Panamax 76,429 2004 December 2010 Coal Pride Panamax 72,600 1999 October 2009 Isminaki Panamax 74,577 1998 August 2009 Angela Star Panamax 73,798 1998 June 2009 Elinakos Panamax 73,751 1997 September 2009 Happy Day Panamax 71,694 1997 July 2009 Iron Man (A) Panamax 72,861 1997 May 2010 Coal Age (A) Panamax 72,861 1997 September 2009 Fearless I (A) Panamax 73,427 1997 September 2009 Barbara (A) Panamax 73,390 1997 June 2010 Linda Leah (A) Panamax 73,390 1997 September 2009 King Coal (A) Panamax 72,873 1997 July 2011 Coal Glory (A) Panamax 73,670 1995 December 2009 Powerful Panamax 70,083 1994 June 2009 First Endeavour Panamax 69,111 1994 September 2009 Rodon Panamax 73,670 1993 August 2009 Birthday Panamax 71,504 1993 July 2010 Renuar Panamax 70,128 1993 June 2009 Fortezza Panamax 69,634 1993 July 2009 ---------- Total Panamax 21 1,532,328 ---------- ---------- ----- ----------------- Average TC Expiration Name Type Dwt Year Built Date ------------- ------------- ------------- ------------- Supramax July M Supramax 55,567 2005 June 2009 Mairouli Supramax 53,206 2005 December 2009 ------------- Total Supramax 2 108,773 Handymax Emerald Handymax 45,588 1998 August 2009 Princess I Handymax 38,858 1994 August 2009 Marybelle Handymax 42,552 1987 June 2009 Attractive Handymax 41,524 1985 July 2009 Lady Handymax 41,090 1985 July 2009 ------------- Total Handymax 5 209,612 ------------- GRAND TOTAL 47 3,860,372 ============= Average age 9.0 Yrs ------------- ------------- ------------- ------------- Estimated Fleet to be delivered Type Dwt delivery (B) ------------- ------------- ------------- Christine (D) Capesize 180,000 March 2010 Hope (E) Capesize 181,000 November 2010 Lillie (E) Capesize 181,000 December 2010 Total fleet to be delivered 542,000 ------------- ------------- ------------- Estimated delivery Fleet to be delivered (c) Type Dwt (B) ----------- ----------- ----------- Fritz (E) Capesize 180,000 May 2010 Benthe (E) Capesize 180,000 June 2010 Gayle Frances (E) Capesize 180,000 July 2010 Iron Lena (E) Capesize 180,000 August 2010 ----------- ----------- -----------(1) The vessel will enter into a time charter through February 2016 upon completion of its current charter. (A) These vessels were sold in 2007 and leased back on a bareboat charter through July 2015. (B) The delivery dates shown in this column are estimates based on the delivery dates set forth in the relevant shipbuilding contracts or resale agreements. (C) No refund guarantee has been received for these newbuildings and Excel does not believe that the respective new building contracts will materialize. There can be no assurance that the vessels will be delivered timely or at all. (D) Excel holds a 42.8% interest in the joint venture that will own the vessel. (E) Excel holds a 50% interest in the joint ventures that will own these vessels. For further details on the fleet and their employment please refer to our website at www.excelmaritime.com About Excel Maritime Carriers Ltd Excel is an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, such as iron ore, coal and grains, as well as bauxite, fertilizers and steel products. After the acquisition of Quintana, Excel owns a fleet of 40 vessels and, together with 7 Panamax vessels under bareboat charters, operates 47 vessels (5 Capesize, 14 Kamsarmax, 21 Panamax, 2 Supramax and 5 Handymax vessels) with a total carrying capacity of approximately 3.9 million DWT. Excel Class A common shares have been listed since September 15, 2005 on the New York Stock Exchange (NYSE) under the symbol EXM and, prior to that date, were listed on the American Stock Exchange (AMEX) since 1998. For more information about the Company, please go to our corporate website www.excelmaritime.com. Forward-Looking Statement This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to the ability to changes in the demand for dry bulk vessels, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Contact Information: Contacts: Investor Relations / Financial Media: Nicolas Bornozis President Capital Link, Inc. 230 Park Avenue - Suite 1536 New York, NY 10160, USA Tel: (212) 661-7566 Fax: (212) 661-7526 E-Mail: excelmaritime@capitallink.com www.capitallink.com Company: Lefteris Papatrifon Chief Financial Officer Excel Maritime Carriers Ltd. 17th Km National Road Athens-Lamia & Finikos Street 145 64 Nea Kifisia Athens, Greece Tel: 011-30-210-62-09-520 Fax: 011-30-210-62-09-528 E-Mail: ir@excelmaritime.com www.excelmaritime.com