DryShips Inc., or DryShips or the Company, a diversified owner of ocean going cargo vessels, announced its unaudited financial and operating results for the quarter ended December 31, 2016.

Updated Key Information as of February 7, 2017:

Cash and cash equivalents about $243.0 million, (or $6.70 per share)

Book value of Vessels, net about $95.3 million

3rd Party Loans about $16.5 million

Sifnos Loan Facility balance about $142.9 million

Sifnos Loan available liquidity about $57.1 million

Number of Shares Outstanding 36,253,866

George Economou, Chairman and Chief Executive Officer of the Company, commented:

“We are pleased to have put 2016 behind us. Having now restored our balance sheet and successfully raised over $300 million in new equity in the last 12 months, DryShips is in a unique position to opportunistically acquire vessels at prices close to historic lows.”