Costamare Announces the Acquisition and Charter of a Secondhand Vessel

Costamare Inc.

announced today that it has agreed to purchase and charter a secondhand containership and furthermore that it has concluded charter extensions for three existing vessels and new charter agreements for two existing vessels. The Company also announced that management intends to recommend a dividend increase beginning with the third quarter dividend. The Company has reached an agreement to acquire a 5,000 TEU, 2003-built containership from Mediterranean Shipping Company S.A. ("MSC") for a purchase price of approximately $55 million. The acquisition is expected to be financed by cash from operations and the use of a currently committed undrawn credit line.