Senior Management of
  • Excel Maritime Carriers (NYSE: EXM), Mr. Babis Mazarakis, COO,
  • Paragon Shipping (NYSE: PRGN), Mr. Michael Bodouroglou, CEO,
  • Star Bulk Carriers (NASDAQ: SBLK), Mr. Akis Tsirigakis, CEO and
  • TBS International (NASDAQ: TBSI), Mr. Joseph Royce, CEO

will participate in a virtual panel discussion on the dry bulk shipping sector on Thursday, July 22, 2010 at 9:30 A.M. EDT.

The Dry Bulk Virtual Forum is organized by Capital Link, a New York based Investor Relations and Financial Communications firm with strategic focus on shipping.

ACCESS TO THE DISCUSSION The panel discussion can be accessed through a live audio webinar on Capital Link's Shipping website at www.CapitalLinkWebinars.com or at www.CapitalLinkShipping.com, where it will remain archived afterwards.

Participants should register on the website. Please go to www.CapitalLinkWebinars.com to register and access the event.

PANEL STRUCTURE The panel discussion will be moderated by Mr. Michael Webber, Vice President & Senior Equity Analyst at Wells Fargo Securities. The focus of the discussion (and the Q&A) will be only on sector trends and fundamentals, and not on company specifics or company recommendations.

QUESTIONS FROM PARTICIPANTS Participants can submit questions to the panelists prior to or during the event through the special event page at questions@CapitalLinkWebinars.com.

TRANSCRIPT A transcript of the panel discussion will be publicly available within approximately 48 hours after the event and those interested can request a copy of it through www.CapitalLinkWebinars.com or www.CapitalLinkShipping.com.

WEBINAR OVERVIEW Dry bulk shipping is a vital link in the global economy and trade and is widely viewed as a proxy to the global economic recovery. After a steady recovery in the earlier part of the year, the Baltic Dry Index (BDI), which is viewed as the industry barometer for the spot market, (but not a precursor of future developments) had fallen for 35 consecutive sessions from May 27 through July 15, reaching its lowest level since April 17, 2009.

This webinar comes at the proper time as investors and industry participants reflect and debate on what brought the market to its current levels and what lies ahead. The webinar, led by an esteemed panel of dry bulk ship owners, will examine the developments and prospects of dry bulk shipping. It will cover six main topics; current developments and the current status of the market; the demand side, the supply side, freight rates and asset values, market valuations. It will address key demand and supply issues including China, India, Brazil and other economies, the trend for coal, iron ore, grain and dry cargo, expansion and consolidation opportunities, and more.

About Capital Link Capital Link is a New York-based Investor Relations and Financial Communications firm which among other activities maintains strategic focus on international shipping companies listed on US and European Stock Exchanges. Capital Link's headquarters are in New York with a presence in London and Athens. In its effort to enhance the information flow to the investment community and contribute to improving investor knowledge of shipping, Capital Link has undertaken a series of initiatives beyond the traditional scope of its investor relations activity, such as www.CapitalLinkShipping.com, a web based resource which provides information on the major shipping and stock market indices, as well as on all shipping stocks; a Weekly Capital Link Shipping eNewsletter; Virtual Sector Forums & Webinars; Capital Link Investor Shipping Forums in New York, Athens and London and www.MaritimeIndices.com, with a series of Maritime Indices developed and maintained by Capital Link which track the performance of U.S. listed shipping stocks (CL maritime Index, CL Dry Bulk Index, CL Tanker Index, CL Container Index, CL LNG/LPG Index, CL Mixed Fleet Index, CL Shipping MLP Index - Bloomberg page: CPLI).

Contact for Capital Link Shipping: Nicolas Bornozis President Capital Link, Inc. 230 Park Avenue - Suite 1536 New York, N.Y. 10169 Tel. (212) 661-7566 Fax (212) 661-7526 E-mail: webinars@capitallink.com www.capitallinkshipping.com, www.capitallink.com www.capitallinkwebinars.com

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