Costamare Inc. Announces Public Offering of Common Stock

News Release Costamare Inc. March 24, 2012

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<DIV>ATHENS, GREECE - March 21, 2012 - Costamare Inc. (the "Company") (NYSE:
CMRE) announced today that it plans to offer 7,500,000 shares of its common
stock. Members of the Konstantakopoulos family, who in the aggregate own a
majority of the common stock of the Company, have indicated their intention to
purchase up to 750,000 shares in the offering. In connection with the offering,
the Company intends to grant the underwriters a 30-day option to purchase up to
1,125,000 additional shares of its common stock. The
Company plans to use the net proceeds of the offering for capital expenditures,
including vessel acquisitions, and for other general corporate purposes, which
may include repayments of indebtedness. Morgan
Stanley and BofA Merrill Lynch are acting as joint book-running managers of the
offering, which will be made under an effective shelf registration statement.
 The offering is being made only by means of a
prospectus supplement and accompanying base prospectus. When available, the
prospectus supplement and accompanying base prospectus relating to the offering
may be obtained from Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY
10014, Attn: Prospectus Department, email: prospectus@morganstanley.com or BofA
Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus
Department, email:dg.prospectus_requests@baml.com. This release does not constitute an offer to sell, or the solicitation
of an offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation, or sale would be unlawful prior
to registration or qualification under the securities laws of any such
jurisdiction. </DIV></BODY></HTML>