DryShips Inc. Announces Third Quarter and Nine Months 2008 Results Release Date, Conference Call and Webcast

ATHENS, GREECE--(Marketwire - October 30, 2008) - DryShips Inc. (NASDAQ: DRYS) announced today that it will release its results for the third quarter 2008 before the market opens in New York on Monday, November 3, 2008.

DryShips' management team will host a conference call on the same day at 9:00 a.m. Eastern Standard Time to discuss the Company's financial results.

Conference Call details:

Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1(866) 819-7111 (from the US), 0(800) 953-0329 (from the UK) or (+44) 1452 542 301 (from outside the US). Please quote "DryShips."

A replay of the conference call will be available until November 10, 2008. The United States replay number is 1(866) 247 4222; the international replay number is 0(800) 953 -1533; from the UK or (+44) 1452-550 000 and access code required for the replay is: 2133051#

Slides and audio webcast:

There will also be a simultaneous live webcast over the Internet, through the DryShips Inc. website (www.dryships.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

About DryShips Inc.

DryShips Inc., based in Greece, is an owner and operator of drybulk carriers that operate worldwide. As of the day of this release, DryShips owns a fleet of 54 drybulk carriers comprising 7 Capesize, 30 Panamax, 2 Supramax, and 15 newbuilding drybulk vessels, with a combined deadweight tonnage of about 4.7 million tons.

DryShips is also the owner of 6 UDW drilling units including 4 UDW drillships to be built at Samsung Heavy Industries (SHI), scheduled for delivery between the fourth quarter of 2010 and the third quarter 2011. DryShips Inc.'s common stock is listed on the NASDAQ Global Market where it trades under the symbol "DRYS."

Visit our website at www.dryships.com

Contact Information: Investor Relations / Media: Nicolas Bornozis Capital Link, Inc., New York Tel. 212-661-7566 E-mail: dryships@capitallink.com