STAR BULK CARRIERS CORP.

NEWS RELEASE

STAR BULK CARRIERS CORP. DECLARES DIVIDEND OF $0.05 PER SHARE FOR THE QUARTER ENDING SEPTEMBER 30, 2009
Star Bulkr 30, 2009 ATHENS, GREECE, November 16, 2009 - Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK), today announced that its Board of Directors declared a cash dividend of $0.05 per outstanding share of the Company's common stock for the three months ending September 30, 2009. The dividend is payable on or about December 4th, 2009 to shareholders of record as of November 27th, 2009. The Company received written consent from each of its lenders for the declaration and payment of this dividend in respect of the third quarter of 2009, as required under the terms of the Company's waiver agreements with its lenders, in effect up to February 2010. Akis Tsirigakis, President and CEO of Star Bulk, commented: "We are pleased to continue rewarding our investors through the distribution of dividends. We are also pleased to enjoy the continued confidence of our lenders. 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Aethrion Center, Suite B-34 40 Ag. Konstantinou Maroussi Athens, 15124 Greece Phone: (212) 661-7566