Excel Maritime Announces the Results of its Annual General Shareholders’ Meeting

News Release Excel Maritime Carriers, Ltd. July 13, 2012

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ATHENS, GREECE - July 9, 2012 - Excel Maritime Carriers
Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an
international provider of worldwide seaborne transportation services for dry
bulk cargoes, announced today the results of the annual general meeting of its
shareholders (the "AGM"). At the meeting the following proposals were approved
and adopted: 1) The election of six (6) Directors of the Company, as set forth
in Proposal One in the proxy statement distributed to shareholders in connection
with the AGM (the "Proxy Statement"); and 2) the appointment of Ernst &
Young as the Company’s independent auditors for the fiscal year ending December
31, 2012, as set forth in Proposal Two in the Proxy Statement.
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