Seanergy Maritime Holdings Corp. Announces Sale of Handymax Vessel
News Release
Seanergy Maritime Holdings Corp
February 10, 2012
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<P align=left>February 9, 2012 </B></FONT></FONT><FONT size=2 face=Arial><FONT
size=2 face=Arial>- Athens, Greece - </FONT></FONT><FONT size=2 face=Arial><FONT
size=2 face=Arial>Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ:
SHIP)</P></FONT></FONT><FONT size=2 face=Arial><FONT size=2 face=Arial>
<P align=left>announced today that it has signed a Memorandum of Agreement with
an unaffiliated third party for the sale of its</P>
<P align=left>Handymax dry bulk carrier, the African Zebra for a gross price of
$4.1 million. The vessel is expected to be</P>
<P align=left>delivered to its new owners mid-February 2012. The African Zebra
is a 38,632 dwt Handymax bulk carrier built in</P>
<P align=left>1985 and the Company plans to use the proceeds to reduce debt. The
sale will result in a book loss of</P>
<P align=left>approximately $2.4 million.</P>
<P align=left>Upon completion of sale of African Zebra, the Company's fleet will
consist of ten Handysize, three Panamax, two</P>
<P>Supramax and four Capesize dry bulk carriers with an average age of 13.7
years.</P></FONT></FONT></DIV></BODY></HTML>
<HTML><HEAD><TITLE></TITLE>
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<DIV><B><FONT size=2 face=Arial><FONT size=2 face=Arial>
<P align=left>February 9, 2012 </B></FONT></FONT><FONT size=2 face=Arial><FONT
size=2 face=Arial>- Athens, Greece - </FONT></FONT><FONT size=2 face=Arial><FONT
size=2 face=Arial>Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ:
SHIP)</P></FONT></FONT><FONT size=2 face=Arial><FONT size=2 face=Arial>
<P align=left>announced today that it has signed a Memorandum of Agreement with
an unaffiliated third party for the sale of its</P>
<P align=left>Handymax dry bulk carrier, the African Zebra for a gross price of
$4.1 million. The vessel is expected to be</P>
<P align=left>delivered to its new owners mid-February 2012. The African Zebra
is a 38,632 dwt Handymax bulk carrier built in</P>
<P align=left>1985 and the Company plans to use the proceeds to reduce debt. The
sale will result in a book loss of</P>
<P align=left>approximately $2.4 million.</P>
<P align=left>Upon completion of sale of African Zebra, the Company's fleet will
consist of ten Handysize, three Panamax, two</P>
<P>Supramax and four Capesize dry bulk carriers with an average age of 13.7
years.</P></FONT></FONT></DIV></BODY></HTML>