Ocean Rig UDW Prices Upsized Offering of Shares by DryShips

Ocean Rig UDW Inc.

today announced the upsizing of the previously announced public offering of Ocean Rig common shares by DryShips Inc.

to 7,500,000 common shares and that the offering has priced with gross proceeds of approximately $126.4 million. All net proceeds from the sale of the common shares will be received by DryShips as the selling shareholder. Following the completion of the offering, DryShips is expected to own approximately 59.4% of the Company's outstanding shares. The offering is expected to close on February 14, 2013.