Year TCERate
Name Type Dwt TEU Built Employment ($/day)
------------- ------- ------ ------- ------------- -------------
Dry Bulk Vessels
---------------- Baumarine
Spot Pool - Spot / Partly
IRINI (*) Panamax 69,734 1988 'til end 2008 fixed
------------- ------- ------ ------- ------------- -------------
ARISTIDES TC 'til
N.P. Panamax 69,268 1993 Jan-09 $ 52,000
------------- ------- ------ ------- ------------- -------------
TC 'til
IOANNA P. Panamax 64,873 1984 Aug-08 $ 35,500
------------- ------- ------ ------- ------------- -------------
NIKOLAOS P. Handysize 34,750 1984 Spot $ 41,000
------------- ------- ------ ------- ------------- -------------
GREGOS Handysize 38,691 1984 Spot $ 44,750
------------- ------- ------ ------- ------------- -------------
Total Dry
Bulk Vessels 5 277,316
------------- ------- ------ ------- ------------- -------------
Multipurpose Dry
Cargo Vessels
---------------- $ 8,850 'til
Dec-08,
TASMAN TC 'til $ 9,500 'til
TRADER 1 22,568 950 1990 Mar-12 Dec-10,
$ 9,000 'til
Mar-12
------------- ------- ------ ------- ------------- -------------
Container Carriers
------------------
TIGER TC 'til
BRIDGE Intermediate 31,627 2,228 1990 Jul-09 $ 16,500
------------- ------- ------ ------- ------------- -------------
TC 'til
ARTEMIS Intermediate 29,693 2,098 1987 Dec-08 $ 19,000
------------- ------- ------ ------- ------------- -------------
TC 'til
DESPINA P Handysize 33,667 1,932 1990 Feb-09 $ 15,250
------------- ------- ------ ------- ------------- -------------
TC 'til
JONATHAN P Handysize 33,667 1,932 1990 May-09 $ 16,500
------------- ------- ------ ------- ------------- -------------
CLAN TC 'til
GLADIATOR Handysize 30,007 1,742 1992 Sep-09 $ 18,500
------------- ------- ------ ------- ------------- -------------
YM TC 'til
XINGANG I Handysize 23,596 1,599 1993 Jul-09 $ 26,650
------------- ------- ------ ------- ------------- -------------
TC 'til
MANOLIS P Handysize 20,346 1,452 1995 Nov-09 $ 15,800
------------- ------- ------ ------- ------------- -------------
NINOS
(ex-YM TC 'til
QINGDAO I) Feeder 18,253 1,169 1990 Apr-09 $ 13,175
------------- ------- ------ ------- ------------- -------------
KUO TC 'til
HSIUNG Feeder 18,154 1,169 1993 Feb-09 $ 15,800
------------- ------- ------ ------- ------------- -------------
Total Container
Carriers 9 239,010 15,321
------------- ------- ------ ------- ------------- -------------
Fleet Grand
Total 15 538,894 16,271
------------- ------- ------ ------- ------------- -------------
(*) "IRINI" is employed in the Baumarine pool that is managed by Klaveness, a major global charterer in the dry bulk area, and also participates in "short" funds (contracts to carry cargo at agreed rates), reducing its exposure to the spot market. About Euroseas Ltd. Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 136 years. Euroseas trades on the NASDAQ Global Market under the ticker ESEA. Euroseas operates in the dry cargo, drybulk and container shipping markets. Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2000 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. The Company has a fleet of 15 vessels, including 3 Panamax drybulk carriers, 2 Handysize drybulk carriers, 2 Intermediate container ship, 5 Handysize container ships, 2 Feeder container ships and a multipurpose dry cargo vessel. Euroseas' 5 drybulk carriers have a total cargo capacity of 277,316 dwt, its 9 container ships have a cargo capacity of 15,321 teu and its 1 multipurpose vessel has a cargo capacity of 22,568 dwt or 950 teu. Forward-Looking Statement This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for dry bulk vessels, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Contact Information: Contact: Visit our website www.euroseas.gr Company Contact Tasos Aslidis Chief Financial Officer Euroseas Ltd. 11 Canterbury lane Watchung, NJ 07069 Tel. (908) 301-9091 E-mail: aha@euroseas.gr Investor Relations / Financial Media Nicolas Bornozis President Capital Link, Inc. 230 Park Avenue, Suite 1536 New York, NY 10169 Tel. (212) 661-7566 E-mail: nbornozis@capitallink.com