DryShips Inc. Announces Reverse Stock Split

ATHENS, GREECE -- (Marketwired) -- 04/06/17 -- DryShips Inc. (NASDAQ: DRYS) (the "Company" or "DryShips", a diversified owner of ocean going cargo vessels, announced today that its Board of Directors (the "Board" has determined to effect a 1-for-4 reverse stock split of the Company's common shares. At the Company's annual general meeting of shareholders on October 26, 2016, the Company's shareholders approved the reverse stock split and granted the Board, or a duly constituted committee thereof, the authority to determine the exact split ratio and proceed with the reverse stock split.

The reverse stock split will take effect, and the Company's common stock will begin trading on a split-adjusted basis on the Nasdaq Capital Market as of the opening of trading on April 11, 2017 under the existing trading symbol "DRYS". The new CUSIP number for the common stock following the reverse stock split is Y2109Q143. When the reverse stock split becomes effective, every four shares of the Company's issued common stock will be automatically combined into one share of common stock.