Press Releases
Euroseas Ltd. Commences Trading on the Over The Counter Bulletin Board
Maroussi, Athens, Greece ? Euroseas Ltd., (OTCBB: ESEAF.OB) an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced that its shares are trading on the Over The Counter Bulletin Board (OTCBB) under the symbol ESEAF.OB
Aristides Pittas, Chairman and CEO of Euroseas commented: "We are particularly pleased that our shares are publicly trading. This is a major step forward for our company and our shareholders. We believe that the timing of becoming a public company has been excellent, as it will enable us to take full advantage of market opportunities as these may present themselves in 2006."
Euroseas has also applied for listing on the NASDAQ National Market.
About Euroseas Ltd.
Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 125 years. Currently, Euroseas Ltd. owns and operates 9 vessels, including 4 Handysize bulk carriers, 1 Panamax drybulk carrier, 3 Handysize containerships and 1 multipurpose dry cargo vessel. Euroseas will continue to operate in the dry cargo, drybulk and container shipping markets, with operations managed by Eurobulk Ltd., an ISO 9001:2000 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas' 5 drybulk carrier vessels have total cargo capacity of 190,904 deadweight tons (dwt), its 3 containerships have cargo capacity of 66,100 dwt and 4,636 twenty-foot equivalent units (teu) and its multipurpose vessel has capacity of 22,568 dwt and 950 teu.
Forward Looking Statement
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company?s growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as ?expects,? ?intends,? ?plans,? ?believes,? ?anticipates,? ?hopes,? ?estimates,? and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for dry bulk vessels, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company?s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company?s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Contact:
Visit our website www.euroseas.gr
Company Contact
Tasos Aslidis
Chief Financial Officer
Euroseas Ltd.
2693 Fair View Drive
Mountainside, NJ 07092
Tel. (908) 301-9091
E-mail: aha@euroseas.gr
Investor Relations/Financial Media
Nicolas Bornozis
President
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, NY 10169
Tel. (212) 661-7566
E-mail: nbornozis@capitallink.com