Ocean Rig: Shareholders Should Take No Action at this Point

Ocean Rig has been notified that DryShips Ïnc. has acquired additional shares, reached a total holding of more than 50% of the outstanding shares and is preparing a mandatory offer for the Company.

The Board of Ocean Rig urges shareholders to take no further action at this time pending clarification regarding the mandatory offer. The Board will issue an opinion related to the mandatory offer when it has been made public.

Ocean Rig owns and operates two of the world's largest and most modern drilling rigs, built for ultra deep waters and extreme weather conditions. The units are currently operating in the US Gulf of Mexico and in the North Sea.

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