Safe Bulkers, Inc. Announces Election of Class I Directors at 2012 Annual Meeting of Stockholders

News Release Safe Bulkers, Inc. June 8, 2012

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Athens, Greece -- June 6, 2012 -- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an
international provider of marine drybulk transportation services,
announced the election of three
Class I directors at the Company’s annual meeting of stockholders
held in Athens today.
Elected Class I directors were Polys Hajioannou, the Company’s
Chief Executive Officer and
Chairman; Ioannis Foteinos, the Company’s Chief Operating Officer;
and Ole Wikborg, an
independent director who serves as a director, senior underwriter
and member of the
management team of the Norwegian Hull Club, based in Oslo, Norway.
The Class I directors
were elected to hold office for a term ending at the annual
meeting of stockholders in 2015 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,
2012.</DIV></BODY></HTML>