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April 29, 2011

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Safe Bulkers, Inc. Sets Date for First Quarter 2011 Results, Dividend Announcement, Conference Call and Webcast

News Release Safe Bulkers, Inc. April 29, 2011
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<P align=left>Earnings Release: Tuesday, May 3, 2011, After Market Closes</P>
<P align=left>Conference Call and Webcast: Wednesday, May 4, 2011 at 09:00 A.M.
EDT</P></I></FONT><B><FONT face="Times New Roman">
<P align=left>Athens, Greece - April 28, 2011 </B></FONT><FONT
face="Times New Roman">-- Safe Bulkers, Inc. (the Company) (NYSE: SB), an</P>
<P align=left>international provider of marine drybulk transportation services,
announced today that it</P>
<P align=left>will release its results for the quarter ended March 31, 2011
after the market closes in</P>
<P align=left>New York on Tuesday, May 3, 2011. The Company also expects to
announce the</P>
<P align=left>declaration of a dividend for the first quarter 2011 at that
time.</P>
<P align=left>On Wednesday, May 4, 2011 at 9</FONT><FONT
face="Times New Roman">:00 A.M. EDT, the Company&#8217;s </FONT><FONT
face="Times New Roman">management team will</P>
<P align=left>host a conference call to discuss the financial
results.</P></FONT><B><FONT face="Times New Roman">
<P align=left>Conference Call details:</P></B></FONT><FONT
face="Times New Roman">
<P align=left>Participants should dial into the call 10 minutes before the
scheduled time using the</P>
<P align=left>following numbers: 1 (866) 819-7111 (US Toll Free Dial In), 0(800)
953-0329 (UK Toll</P>
<P align=left>Free Dial In) or +44 (0)1452-542-301 (Standard International Dial
In). </FONT><B><FONT face="Times New Roman">Please quote</P></FONT><FONT
face="Times New Roman,Bold">
<P align=left>&#8220;</FONT><FONT face="Times New Roman">Safe Bulkers</FONT><FONT
face="Times New Roman,Bold">&#8221; </B></FONT><FONT face="Times New Roman">to the
operator.</P>
<P align=left>In case of any problem with the above numbers, please dial 1 (866)
223-0615 (US Toll</P>
<P align=left>Free Dial In), 0(800) 694-1503 (UK Toll Free Dial In) or +44
(0)1452 586-513</P>
<P align=left>(Standard International Dial In). </FONT><B><FONT
face="Times New Roman">Please quote </FONT><FONT
face="Times New Roman,Bold">&#8220;</FONT><FONT face="Times New Roman">Safe
Bulkers</FONT><FONT face="Times New Roman,Bold">&#8221; </B></FONT><FONT
face="Times New Roman">to the operator</FONT><B><FONT
face="Times New Roman">.</P></B></FONT><FONT face="Times New Roman">
<P align=left>A telephonic replay of the conference call will be available until
May 13</FONT><FONT size=1 face="Times New Roman"><FONT size=1
face="Times New Roman">th </FONT></FONT><FONT face="Times New Roman">by dialling
1</P>
<P align=left>(866) 247-4222 (US Toll Free Dial In), 0(800) 953-1533 (UK Toll
Free Dial In) or +44</P>
<P align=left>(0)1452 550-000 (Standard International Dial In). Access Code:
1859591#</P></FONT><B><FONT face="Times New Roman">
<P align=left>Slides and audio webcast:</P></B></FONT><FONT
face="Times New Roman">
<P align=left>There will also be a live, and then archived, webcast of the
conference call, available</P>
<P align=left>through </FONT><FONT face="Times New Roman">the Company&#8217;s
</FONT><FONT face="Times New Roman">website (</FONT><FONT color=#0000ff
face="Times New Roman"><FONT color=#0000ff
face="Times New Roman">www.safebulkers.com</FONT></FONT><FONT
face="Times New Roman">). Participants to the live webcast</P>
<P>should register on the website approximately 10 minutes prior to the start of
the webcast.</P></FONT></DIV></BODY></HTML>