DryShips Inc. Announces Management Change
News Release
DryShips Inc.
October 4, 2012
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<P align=left>October 3, 2012, </B></FONT><FONT face="Times New Roman">Athens,
Greece. DryShips Inc. (NASDAQ: DRYS), or the Company, a</P>
<P align=left>global provider of marine transportation services for drybulk and
petroleum cargoes, and</P>
<P align=left>through its majority owned subsidiary, Ocean Rig UDW Inc., or
Ocean Rig, of off-shore</P>
<P align=left>deepwater drilling services, today announced that Pankaj Khanna,
Chief Operating</P>
<P align=left>Officer, will be stepping down from his position, effective
October 2, 2012, to pursue</P>
<P align=left>other interests. His duties will be absorbed by the existing
management team.</P>
<P align=left>George Economou, Chairman and Chief Executive Officer of the
Company commented:</P>
<P>“It was a pleasure working with Pankaj, and we wish him well in his future
endeavors.”</P></FONT></DIV></BODY></HTML>
<HTML><HEAD><TITLE></TITLE>
<META content="text/html; charset=unicode" http-equiv=Content-Type>
<META name=GENERATOR content="MSHTML 8.00.6001.19298"></HEAD>
<BODY>
<DIV><B><FONT face="Times New Roman">
<P align=left>October 3, 2012, </B></FONT><FONT face="Times New Roman">Athens,
Greece. DryShips Inc. (NASDAQ: DRYS), or the Company, a</P>
<P align=left>global provider of marine transportation services for drybulk and
petroleum cargoes, and</P>
<P align=left>through its majority owned subsidiary, Ocean Rig UDW Inc., or
Ocean Rig, of off-shore</P>
<P align=left>deepwater drilling services, today announced that Pankaj Khanna,
Chief Operating</P>
<P align=left>Officer, will be stepping down from his position, effective
October 2, 2012, to pursue</P>
<P align=left>other interests. His duties will be absorbed by the existing
management team.</P>
<P align=left>George Economou, Chairman and Chief Executive Officer of the
Company commented:</P>
<P>“It was a pleasure working with Pankaj, and we wish him well in his future
endeavors.”</P></FONT></DIV></BODY></HTML>