Eagle Bulk Shipping Inc. Announces Effectiveness of 1-for-4 Reverse Stock Split

Eagle Bulk Shipping Inc.

today announced that the previously announced 1-for-4 reverse stock split of the Company's issued and outstanding common stock will take effect on May 22, 2012. The Company's common stock is expected to begin trading on a split-adjusted basis on the NASDAQ Global Select Market as of the open of trading on May 23, 2012.