Safe Bulkers, Inc. Announces Election of Class II Directors at 2010 Annual Meeting of Stockholders

News Release Safe Bulkers, Inc. June 10, 2010

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Athens, Greece – June 10, 2010 -- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an
international provider of marine drybulk transportation services,
announced the election
of two Class II directors at the Company’s annual meeting of
stockholders held in Athens
today.
Elected Class II directors were Dr. Loukas Barmparis, the
Company’s President, and
John Gaffney, an independent director who serves as a Senior Vice
President, Corporate
Development and General Counsel of Solyndra, Inc., based in
Fremont, CA. The Class II
directors were elected to hold office for a term ending at the
annual meeting of
stockholders in 2013 and until their respective successors have
been duly elected and
qualified.
Stockholders also ratified the appointment of Deloitte,
Hadjipavlou, Sofianos &
Cambanis S.A. as the Company’s independent auditors for the fiscal
year ending
December 31, 2010.
Stockholders also approved an equity compensation plan for
independent directors. A
summary of the equity compensation plan for independent directors
is set forth under the
heading “Proposal III: Approval of Equity Compensation Plan for
Independent Directors”
in the Company’s proxy statement dated May 10,
2010.
About Safe Bulkers, Inc.
The Company’s subsidiaries provide marine drybulk transportation
services, transporting
bulk cargoes, particularly coal, grain and iron ore, along
worldwide shipping routes for
some of the world’s largest users of such services. The Company’s
common stock is
listed on the NYSE where it trades under the symbol “SB”. The
Company’s subsidiaries
currently own 15 drybulk vessels, all built post 2003, and have
contracted to acquire six
additional drybulk newbuild vessels to be delivered at various
times through the first
quarter of 2012.</DIV></BODY></HTML>