Report of Foreign Issuer (6-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of February 2014

Commission File Number 001-33922

DRYSHIPS INC.

74-76 V. Ipeirou Street

151 25, Marousi

Athens, Greece

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [X] Form 40-F [ ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ].

Note : Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ].

Note : Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached as Exhibit 99.1 to this Report on Form 6-K is a press release of DryShips Inc. (the “Company”) dated February 18, 2014: DryShips Inc. Reports Financial and Operating Results for the Fourth Quarter 2013.

This Report on Form 6-K, and the exhibit hereto, except for the section entitled "George Economou, Chairman and Chief Executive Officer of the Company commented" are hereby incorporated by reference into the Company's Registration Statement on Form F-3 ASR (Registration No. 333- 190951) filed with the Securities and Exchange Commission on September 3, 2013.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	DRYSHIPS INC.
	(Registrant)

Dated: February 18, 2014	By: /s/George Economou
		George Economou Chief Executive Officer

Exhibit 99.1

[F021814DRYS6K001.JPG]

DRYSHIPS INC. REPORTS FINANCIAL AND OPERATING

RESULTS FOR THE FOURTH QUARTER 2013

February 18, 2014, Athens, Greece. DryShips Inc. (NASDAQ:DRYS), or DryShips 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 its unaudited financial and operating results for the fourth quarter ended December 31, 2013.

Fourth Quarter 2013 Financial Highlights

For the fourth quarter of 2013, the Company reported a net loss of $24.4 million, or $0.06 basic and diluted loss per share.

The Company reported Adjusted EBITDA of $163.7 million for the fourth quarter of 2013, as compared to $109.5 million for the fourth quarter of 2012. ⁽¹⁾

Year Ended December 31, 2013 Financial Highlights

For the year ended December 31, 2013, the Company reported a net loss of $223.1 million, or $0.58 basic and diluted loss per share.

Included in the year ended December 31, 2013 results are:

Losses on the sale of four newbuilding drybulk vessels, of $76.8 million, or $0.20 per share.

Non-cash write-offs and breakage costs associated with the full repayment of Ocean Rig's $800.0 million secured term loan agreement and the two $495.0 million senior secured credit facilities totaling $61.1million or $0.16 per share.

Excluding the above items, the Company would have reported a net loss of $110.0 million, or $0.28 per share. ⁽¹⁾

The Company reported Adjusted EBITDA ⁽²⁾ of $572.0 million for the year ended December 31, 2013, as compared to $500.5 million for the year ended December 31, 2012.

Recent Highlights

On February 7, 2014, Ocean Rig refinanced its existing short-term Tranche B-2 Term Loans with a fungible add-on to its existing long-term Tranche B-1 Term Loans. As a result of this refinancing, the total $1.9 billion of Tranche B-1 Term Loans will mature no earlier than the third quarter of 2020.

On January 27, 2014, the Ocean Rig Skyros arrived in Angola and commenced the acceptance testing under the contract with Total E&P.

________________________________

⁽¹⁾ The net result is adjusted for the minority interests of 40.6% not owned by Dryships Inc. common stockholders.

⁽²⁾ Adjusted EBITDA is a non-GAAP measure; please see later in this press release for reconciliation to net income.

On December 31, 2013, the Company resumed sales under its previously announced $200 million program of at the market issuances of its common shares through Evercore Group L.L.C. as its sales agent. During January 2014, 20,837,582 common shares were issued and sold at an average share price of $4.14 per share pursuant to the at-the-market offering, resulting in net proceeds to the Company of $84.5 million, after deducting commissions.

On December 30, 2013, Ocean Rig agreed with a major oil company to further extend until March 30, 2014, the expiration of the previously announced Letter of Award for its ultra deepwater drillship Ocean Rig Skyros .

On December 20, 2013, Ocean Rig took delivery of its ultra deepwater drillship, the Ocean Rig Skyros and drew down $450.0 million under its $1.35 billion syndicated secured term loan facility.

George Economou, Chairman and Chief Executive Officer of the Company, commented:

“We are very excited about the prospects of the shipping markets. Following a period of oversupply the recent volatility in the tanker and drybulk sectors is a clear sign of a balanced supply-demand picture. Asset prices are rising which is a strong indication of current market sentiment. We are optimistic and expect a sustainable recovery in 2014 and beyond.

“Currently Dryships has about 3,600 spot days in 2014 and 3,600 spot days in 2015 for its crude tanker fleet and about 9,000 spot days in 2014 and 11,900 spot days in 2015 for its drybulk fleet. Given this immediate spot exposure, Dryships is uniquely positioned to take full advantage of the imminent market recovery.

“Turning to the offshore side, Ocean Rig continues to execute on its business plan by posting yet another quarter of good operating performance. Ocean Rig’s modern fleet, strong balance sheet and solid backlog of $5.4 billion, provides it with a solid foundation to implement the previously announced value creation initiatives.”

Financial Review: 2013 Fourth Quarter

The Company recorded a net loss of $24.4 million, or $0.06 basic and diluted loss per share, for the three-month period ended December 31, 2013 as compared to a net loss of $129.8 million, or $0.34 basic and diluted loss per share, for the three-month period ended December 31, 2012. Adjusted EBITDA ⁽¹⁾ was $163.7 million for the fourth quarter of 2013, as compared to $109.5 million for the same period in 2012.

For the drybulk carrier segment, net voyage revenues (voyage revenues minus voyage expenses) amounted to $45.4 million for the three-month period ended December 31, 2013, as compared to $34.9 million for the three-month period ended December 31, 2012. For the tanker segment, net voyage revenues amounted to $11.9 million for the three-month period ended December 31, 2013, as compared to $6.5 million for the same period in 2012. For the offshore drilling segment, revenues from drilling contracts increased by $115.7 million to $345.5 million for the three-month period ended December 31, 2013, as compared to $229.8 million for the same period in 2012.

Total vessels’, drilling rigs’ and drillships’ operating expenses and total depreciation and amortization decreased to $166.7 million and increased to $96.5 million, respectively, for the three-month period ended December 31, 2013, from $194.4 million and $84.8 million, respectively, for the three-month period ended December 31, 2012. Total general and administrative expenses increased to $57.1 million in the fourth quarter of 2013, from $39.5 million during the same period in 2012.

Interest and finance costs, net of interest income, amounted to $75.8 million for the three-month period ended December 31, 2013, compared to $53.5 million for the three-month period ended December 31, 2012.

____________________________

⁽¹⁾ Adjusted EBITDA is a non-GAAP measure; please see later in this press release for reconciliation to net income .

Fleet List

The table below describes our fleet profile and drilling contract backlog as of February 14, 2014:


	Year			Gross rate	Redelivery
	Built	DWT	Type	Per day	Earliest	Latest
Drybulk fleet

Capesize:
Rangiroa	2013	206,000	Capesize	$23,000	Apr-18	Nov-23
Negonego	2013	206,000	Capesize	$21,500	Mar-20	Feb-28
Fakarava	2012	206,000	Capesize	$25,000	Sept-15	Sept-20
Mystic	2008	170,040	Capesize	$52,310	Aug-18	Dec-18
Robusto	2006	173,949	Capesize	$26,000	Aug-14	Apr-18
Cohiba	2006	174,234	Capesize	$26,250	Oct-14	Jun-19
Montecristo	2005	180,263	Capesize	$23,500	May-14	Feb-19
Flecha	2004	170,012	Capesize	$55,000	Jul-18	Nov-18
Manasota	2004	171,061	Capesize	$30,000	Jan-18	Aug-18
Partagas	2004	173,880	Capesize	$11,500	Jun-14	Oct-14
Alameda	2001	170,662	Capesize	$27,500	Nov-15	Jan-16
Capri	2001	172,579	Capesize	$10,000	Nov-13	Mar-14

Panamax:
Raraka	2012	76,037	Panamax	$7,500	Jan-15	Mar-15
Woolloomooloo	2012	76,064	Panamax	$7,500	Dec-14	Feb-15
Amalfi	2009	75,206	Panamax	Spot	N/A	N/A
Rapallo	2009	75,123	Panamax	T/C Index linked	Jul-16	Sep-16
Catalina	2005	74,432	Panamax	Spot	N/A	N/A
Majorca	2005	74,477	Panamax	Spot	N/A	N/A
Ligari	2004	75,583	Panamax	Spot	N/A	N/A
Saldanha	2004	75,707	Panamax	Spot	N/A	N/A
Sorrento	2004	76,633	Panamax	$24,500	Aug-21	Dec-21
Mendocino	2002	76,623	Panamax	T/C Index linked	Sep-16	Nov-16
Bargara	2002	74,832	Panamax	T/C Index linked	Sep-16	Nov-16
Oregon	2002	74,204	Panamax	Spot	N/A	N/A
Ecola	2001	73,931	Panamax	Spot	N/A	N/A
Samatan	2001	74,823	Panamax	Spot	N/A	N/A
Sonoma	2001	74,786	Panamax	Spot	N/A	N/A
Capitola	2001	74,816	Panamax	Spot	N/A	N/A
Levanto	2001	73,925	Panamax	T/C Index linked	Aug-16	Oct-16
Maganari	2001	75,941	Panamax	Spot	N/A	N/A
Coronado	2000	75,706	Panamax	Spot	N/A	N/A
Marbella	2000	72,561	Panamax	Spot	N/A	N/A
Redondo	2000	74,716	Panamax	Spot	N/A	N/A
Topeka	2000	74,716	Panamax	Spot	N/A	N/A
Ocean Crystal	1999	73,688	Panamax	Spot	N/A	N/A
Helena	1999	73,744	Panamax	Spot	N/A	N/A

Supramax:
Byron	2003	51,118	Supramax	Spot	N/A	N/A
Galveston	2002	51,201	Supramax	Spot	N/A	N/A
	Year Built/or			Gross rate	Redelivery
	Scheduled Delivery	DWT	Type	Per day	Earliest	Latest
Newbuildings
Panamax:
Newbuilding Ice –class Panamax 1	2014	75,900	Panamax	N/A	N/A	N/A
Newbuilding Ice –class Panamax 2	2014	75,900	Panamax	N/A	N/A	N/A
Newbuilding Ice –class Panamax 3	2014	75,900	Panamax	N/A	N/A	N/A
Newbuilding Ice –class Panamax 4	2014	75,900	Panamax	N/A	N/A	N/A
Tanker fleet
Suezmax:
Bordeira	2013	158,300	Suezmax	Spot	N/A	N/A
Petalidi	2012	158,300	Suezmax	Spot	N/A	N/A
Lipari	2012	158,300	Suezmax	Spot	N/A	N/A
Vilamoura	2011	158,300	Suezmax	Spot	N/A	N/A
Aframax:
Alicante	2013	115,200	Aframax	Spot	N/A	N/A
Mareta	2013	115,200	Aframax	Spot	N/A	N/A
Calida	2012	115,200	Aframax	Spot	N/A	N/A
Saga	2011	115,200	Aframax	Spot	N/A	N/A
Daytona	2011	115,200	Aframax	Spot	N/A	N/A
Belmar	2011	115,200	Aframax	Spot	N/A	N/A

Drilling Rigs/Drillships:


Unit Leiv Eiriksson	Year built/ or Scheduled Delivery 2001	Redelivery Q2 – 16	Operating area Norway	Backlog ($m) $431
Eirik Raude	2002	Q4 – 14	Sierra Leone, Ivory Coast	$167
Ocean Rig Corcovado	2011	Q2 – 15	Brazil	$204
Ocean Rig Olympia	2011	Q3 – 15	Gabon, Angola	$323
Ocean Rig Poseidon	2011	Q2 – 16	Angola	$588
Ocean Rig Mykonos	2011	Q1 – 15	Brazil	$177
Ocean Rig Mylos	2013	Q4 – 16	Brazil	$612
Ocean Rig Skyros	2013	Q4 – 14	Angola	$158
		Q4 – 20	Angola	$1,264(1)
Newbuildings
Ocean Rig Athena (Expected delivery Mar. 2014)	2014	Q2 – 17	Angola	$757
Ocean Rig Apollo (Expected delivery Jan. 2015)	2015	Q1 – 18	Congo	$670
Ocean Rig Santorin i (Expected delivery Dec. 2015)	2015	N/A	N/A	N/A
Total				$5,351

(1)

Letter of Award is subject to definitive documentation and other approvals.

Drybulk Carrier and Tanker Segment Summary Operating Data (unaudited)

(Dollars in thousands, except average daily results)


Drybulk	Three Months Ended December 31,		Year Ended December 31,
	2012	2013	2012	2013
Average number of vessels ⁽¹⁾	36.0	38.0	35.7	37.2
Total voyage days for vessels ⁽²⁾	3,312	3,412	13,027	13,442
Total calendar days for vessels ⁽³⁾	3,312	3,496	13,056	13,560
Fleet utilization ⁽⁴⁾	100.0%	97.6%	99.8%	99.1%
Time charter equivalent ⁽⁵⁾	$10,547	$13,303	$15,896	$12,062
Vessel operating expenses (daily) ⁽⁶⁾	$5,124	$6,251	$5,334	$5,796


Tanker	Three Months Ended December 31,		Year Ended December 31,
	2012	2013	2012	2013
Average number of vessels ⁽¹⁾	7.0	10.0	6.3	9.9
Total voyage days for vessels ⁽²⁾	644	920	2,293	3,598
Total calendar days for vessels ⁽³⁾	644	920	2,293	3,598
Fleet utilization ⁽⁴⁾	100.0%	100.0%	100.0%	100.0%
Time charter equivalent ⁽⁵⁾	$10,062	$12,963	$13,584	$12,900
Vessel operating expenses (daily) ⁽⁶⁾	$6,781	$7,148	$7,195	$7,286

(1) Average number of vessels is the number of vessels that constituted our fleet for the relevant period, as measured by the sum of the number of days each vessel was a part of our fleet during the period divided by the number of calendar days in that period.

(2) Total voyage days for fleet are the total days the vessels were in our possession for the relevant period net of dry-docking days.

(3) Calendar days are the total number of days the vessels were in our possession for the relevant period including dry-docking days.

(4) Fleet utilization is the percentage of time that our vessels were available for revenue generating voyage days, and is determined by dividing voyage days by fleet calendar days for the relevant period.

(5) Time charter equivalent, or TCE, is a measure of the average daily revenue performance of a vessel on a per voyage basis. Our method of calculating TCE is consistent with industry standards and is determined by dividing voyage revenues (net of voyage expenses) by voyage days for the relevant time period. Voyage expenses primarily consist of port, canal and fuel costs that are unique to a particular voyage, which would otherwise be paid by the charterer under a time charter contract, as well as commissions. TCE revenues, a non-U.S. GAAP measure, provides additional meaningful information in conjunction with revenues from our vessels, the most directly comparable U.S. GAAP measure, because it assists our management in making decisions regarding the deployment and use of its vessels and in evaluating their financial performance. TCE is also a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping company's performance despite changes in the mix of charter types (i.e., spot charters, time charters and bareboat charters) under which the vessels may be employed between the periods. Please see below for a reconciliation of TCE rates to voyage revenues.

(6) Daily vessel operating expenses, which includes crew costs, provisions, deck and engine stores, lubricating oil, insurance, maintenance and repairs is calculated by dividing vessel operating expenses by fleet calendar days for the relevant time period.

(In thousands of U.S. dollars, except for TCE rate, which is expressed in Dollars, and voyage days)


Drybulk	Three Months Ended December 31,				Year Ended December 31,
	2012		2013		2012		2013
Voyage revenues	$ 40,754	$	53,021	$	227,141	$	191,024
Voyage expenses	(5,821)		(7,630)		(20,064)		(28,886)
Time charter equivalent revenues	$ 34,933	$	45,391	$	207,077	$	162,138
Total voyage days for fleet	3,312		3,412		13,027		13,442
Time charter equivalent TCE	$ 10,547	$	13,303	$	15,896	$	12,062


Tanker	Three Months Ended December 31,				Year Ended December 31,
	2012		2013		2012		2013
Voyage revenues	$ 12,361	$	32,873	$	41,095	$	120,740
Voyage expenses	(5,881)		(20,947)		(9,948)		(74,325)
Time charter equivalent revenues	$ 6,480	$	11,926	$	31,147	$	46,415
Total voyage days for fleet	644		920		2,293		3,598
Time charter equivalent TCE	$ 10,062	$	12,963	$	13,584	$	12,900

Dryships Inc.

Financial Statements

Unaudited Condensed Consolidated Statements of Operations


(Expressed in Thousands of U.S. Dollars except for share and per share data)		Three Months Ended December 31,				Year Ended December 31,
		2012		2013		2012		2013

REVENUES:
Voyage revenues	$	53,115	$	85,894	$	268,236	$	311,764
Drilling revenues, net		229,751		345,458		941,903		1,180,250
		282,866		431,352		1,210,139		1,492,014

EXPENSES:
Voyage expenses		11,702		28,577		30,012		103,211
Vessel operating expenses		21,337		28,430		86,139		104,808
Drilling rigs operating expenses		173,092		138,311		563,583		504,957
Depreciation and amortization		84,843		96,506		335,458		357,372
Vessel impairments and other, net		41,517		-		42,518		76,783
General and administrative expenses		39,460		57,144		145,935		184,722
Legal settlements and other, net		(5,912)		(581)		(9,360)		4,585

Operating income/(loss)		(83,173)		82,965		15,854		155,576

OTHER INCOME / (EXPENSES):
Interest and finance costs, net of interest income		(53,456)		(75,785)		(205,925)		(319,631)
Gain/ (Loss) on interest rate swaps		(4,582)		(3,467)		(54,073)		8,373
Other, net		(1,891)		(2,483)		(492)		2,245
Income taxes		(11,354)		(9,492)		(43,957)		(44,591)
Total other expenses, net		(71,283)		(91,227)		(304,447)		(353,604)

Net loss		(154,456)		(8,262)		(288,593)		(198,028)

Net (income)/loss attributable to Non controlling interests		24,608		(16,107)		41,815		(25,065)

Net loss attributable to Dryships Inc.	$	(129,848)	$	(24,369)	$	(246,778)	$	(223,093)

Loss per common share, basic and diluted	$	(0.34)	$	(0.06)	$	(0.65)	$	(0.58)
Weighted average number of shares, basic and diluted		380,179,472		388,083,468		380,159,088		384,063,306

Dryships Inc.

Unaudited Condensed Consolidated Balance Sheets


(Expressed in Thousands of U.S. Dollars)			December 31, 2012		December 31, 2013

ASSETS

	Cash, cash equivalents and restricted cash (current and non-current)	$	720,458	$	739,312
	Other current assets		338,446		494,887
	Advances for vessels and drillships under construction and related costs		1,201,807		679,008
	Vessels, net		2,059,570		2,249,087
	Drilling rigs, drillships, machinery and equipment, net		4,446,730		5,828,231
Other non-current assets			111,480		133,167
	Total assets		8,878,491		10,123,692


LIABILITIES AND STOCKHOLDERS’ EQUITY


	Total debt		4,386,715		5,568,003
	Total other liabilities		623,757		723,991
	Total stockholders’ equity		3,868,019		3,831,698
	Total liabilities and stockholders’ equity	$	8,878,491	$	10,123,692

Adjusted EBITDA Reconciliation

Adjusted EBITDA represents earnings before interest, taxes, depreciation and amortization, vessel impairments, dry-dockings and class survey costs and gains or losses on interest rate swaps. Adjusted EBITDA does not represent and should not be considered as an alternative to net income or cash flow from operations, as determined by United States generally accepted accounting principles, or U.S. GAAP, and our calculation of adjusted EBITDA may not be comparable to that reported by other companies. Adjusted EBITDA is included herein because it is a basis upon which the Company measures its operations and efficiency. Adjusted EBITDA is also used by our lenders as a measure of our compliance with certain covenants contained in our loan agreements and because the Company believes that it presents useful information to investors regarding a company's ability to service and/or incur indebtedness.

The following table reconciles net loss to Adjusted EBITDA:


(Dollars in thousands)	Three Months Ended December 31, 2012	Three Months Ended December 31, 2013	Year Ended December 31, 2012	Year Ended December 31, 2013

Net loss	$ (129,848)	$ (24,369)	$ (246,778)	$ (223,093)

Add: Net interest expense	53,456	75,785	205,925	319,631
Add: Depreciation and amortization	84,843	96,506	335,458	357,372
Add: Impairment losses and other	41,339	-	41,339	76,783
Add: Dry-dockings and class survey costs	43,745	2,839	66,506	5,056
Add: Income taxes	11,354	9,492	43,957	44,591
Add: Gain/(loss) on interest rate swaps	4,582	3,467	54,073	(8,373)
Adjusted EBITDA	$ 109,471	$ 163,720	$ 500,480	$ 571,967

Conference Call and Webcast: February 19, 2013

As announced, the Company’s management team will host a conference call, on Wednesday, February 19, 2014 at 9:00 a.m. Eastern Standard Time to discuss the Company's financial results.

Conference Call Details

Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1(866) 819-7111 (from the US), 0(800) 953-0329 (from the UK) or +(44) (0) 1452 542 301 (from outside the US). Please quote "DryShips."

A replay of the conference call will be available until February 26, 2014. The United States replay number is 1(866) 247- 4222; from the UK 0(800) 953-1533; the standard international replay number is (+44) (0) 1452 55 00 00 and the access code required for the replay is: 2133051#.

A replay of the conference call will also be available on the Company’s website at www.dryships.com under the Investor Relations section.

Slides and Audio Webcast

There will also be a simultaneous live webcast over the Internet, through the DryShips Inc. website ( www.dryships.com ). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

About DryShips Inc.

DryShips Inc. is an owner of drybulk carriers and tankers that operate worldwide. Through its majority owned subsidiary, Ocean Rig UDW Inc., DryShips owns and operates 11 offshore ultra deepwater drilling units, comprising of 2 ultra deepwater semisubmersible drilling rigs and 9 ultra deepwater drillships, 1 of which is scheduled to be delivered to Ocean Rig during 2014 and 2 of which are scheduled to be delivered during 2015. DryShips owns a fleet of 42 drybulk carriers (including newbuildings), comprising 12 Capesize, 28 Panamax and 2 Supramax with a combined deadweight tonnage of approximately 4.4 million tons, and 10 tankers, comprising 4 Suezmax and 6 Aframax, with a combined deadweight tonnage of over 1.3 million tons.

DryShips’ common stock is listed on the NASDAQ Global Select Market where it trades under the symbol “DRYS.”

Visit the Company’s website at www.dryships.com

Forward-Looking Statement

Matters discussed in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with such safe harbor legislation.

Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charterhire and drilling dayrates and drybulk vessel, drilling rig and drillship values, failure of a seller to deliver one or more drilling rigs, drillships or drybulk vessels, failure of a buyer to accept delivery of a drilling rig, drillship, or vessel, inability to procure acquisition financing, default by one or more charterers of our ships, changes in demand for drybulk commodities or oil, changes in demand that may affect attitudes of time charterers and customer drilling programs, scheduled and unscheduled drydockings and upgrades, changes in our operating expenses, including bunker prices, drydocking and insurance costs, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by DryShips Inc. with the U.S. Securities and Exchange Commission.

Investor Relations / Media:

Nicolas Bornozis

Capital Link, Inc. (New York)

Tel. 212-661-7566

E-mail: dryships@capitallink.com