DryShips Inc. Announces Mandatory Offer Period for Acquisition of Remaining

DryShips Inc. announced that the Mandatory Offer period for the acquisition of all the outstanding shares of Ocean Rig ASA has commenced. The appropriate Offer Document has been filed with the Oslo Stock Exchange.

The mandatory offer period will end on June 11, 2008. As of May 14, 2008, Primelead Limited, a wholly owned subsidiary of DryShips, Inc., owns 128,035,373 shares in Ocean Rig or 75.1% of the shares and votes in Ocean Rig ASA.