DryShips to Offer 5M Ocean Rig Shares, to Own 61.3% of Ocean Rig Outstanding Shares

DryShips Inc.

, or the Company, an international provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., or Ocean Rig, of offshore deepwater drilling services, today announced it is offering 5,000,000 common shares of Ocean Rig that it owns in an underwritten public offering pursuant to Ocean Rig's effective shelf registration statement on Form F-3ASR filed with the Securities and Exchange Commission. Following the completion of the offering, DryShips is expected to own approximately 61.3% of Ocean Rig's outstanding shares.