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    SCHEDULE I

    Underwriter: Deutsche Bank Securities Inc.

    Indenture: Indenture dated as of November 25,2009 between the Company and theTrustee, as supplemented by the FirstSupplemental Indenture, to be datedas of November 25, 2009, between theCompany and the Trustee

    Trustee: Law Debenture Trust Company of NewYorkRegistration Statement Registration Statement on Form F-3File No.: (File No. 333-146540)Time of Sale Prospectus Prospectus dated October 17, 2008

    relating to the Shelf Securities The preliminary prospectussupplement dated November 17, 2009relating to the Securities Term Sheet dated November 19, 2009

    Securities to be 5.00% Convertible Senior Notes duepurchased: 2014

    Aggregate Principal $400,000,000 Amount of FirmSecurities:

    Aggregate Principal $60,000,000 Amount of AdditionalSecurities:Purchase Price: 97% of the principal amount of the

    Securities, plus accrued interest, if any, from November 25, 2009

    Maturity: December 1, 2014Interest Rate: 5.00% per annum, accruing from

    November 25, 2009Interest Payment Dates: June 1 and December 1 of each year,

    commencing June 1, 2010Closing Date and Time: November 25, 2009 at 10:00 a.m., New

    York City timeClosing Location: Morgan, Lewis & Bockius LLP

    101 Park AvenueNew York, New York 10019

    Address for Notices to Deutsche Bank Securities Inc.Underwriter: 60 Wall Street

    Date Filed: Nov 25, 2009

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE1Form Type: 6-KPeriod End: Nov 30, 2009

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    New York, New York 10005 Attention: Equity Capital Markets -Syndicate Deskwith a copies to:Deutsche Bank Securities Inc.60 Wall Street

    New York, New York 10005 Attention: General Counsel

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    VESSELS

    Country of Ship-Owning Subsidiaries with Incorporation VesselVessels in Operations

    1.00 Malvina Shipping Company Limited Malta Coronado2.00 Arleta Navigation Company Malta Xanadu

    Limited3.00 Selma Shipping Company Limited Malta La Jolla4.00 Samsara Shipping Company Limited Malta Ocean

    Crystal5.00 Farat Shipping Company Limited Malta Toro6.00 Borsari Shipping Company Limited Malta Catalina7.00 Onil Shipping Company Limited Malta Padre8.00 Fabiana Navigation Company Malta Alameda

    Limited9.00 Karmen Shipping Company Limited Malta Sonoma

    10.00 Thelma Shipping Company Limited Malta Manasota11.00 Celine Shipping Company Limited Malta Mendocino12.00 Lotis Traders Inc. Marshall Delray

    Islands13.00 Tempo Marine Co. Marshall Maganari

    Islands14.00 Star Record Owning Company Marshall Ligari

    Limited Islands15.00 Argo Owning Company Limited Marshall Redondo

    Islands

    16.00 Rea Owning Company Limited Marshall EcolaIslands

    17.00 Gaia Owning Company Limited Marshall SamsaraIslands

    18.00 Kronos Owning Company Limited Marshall PrimeraIslands

    19.00 Trojan Maritime Co. Marshall BrisbaneIslands

    20.00 Dione Owning Company Limited Marshall Marbella

    Schedule I-2-------------------------------------------------------------------------------------------------------------------------------------

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE2Form Type: 6-KPeriod End: Nov 30, 2009

    Date Filed: Nov 25, 2009

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    Islands21.00 Phoebe Owning Company Limited Marshall Majorca

    Islands22.00 Uranus Owning Company Limited Marshall Levanto (ex.

    Islands HeinrichOldendorff)

    23.00 Selene Owning Company Limited Marshall BargaraIslands

    24.00 Tethys Owning Company Limited Marshall CapitolaIslands

    25.00 Ioli Owning Company Limited Marshall Paros IIslands

    26.00 Iason Owning Company Limited Marshall OregonIslands

    27.00 Orpheus Owning Company Limited Marshall AvocaIslands

    28.00 Team up Owning Company Limited Marshall SaldanhaIslands

    29.00 Iokasti Owning Company Limited Marshall Pachino (ex.Islands VOC Galaxy)30.00 Boone Star Owners Inc. Marshall Samatan

    Islands31.00 Norwalk Star Owners Inc. Marshall Capri

    Islands32.00 Ionian Traders Inc. Marshall Positano

    Islands33.00 NT LLC Investors Ltd. Marshall Conquistador

    Islands34.00 Dalian Star Owners Inc. Marshall Mystic

    Islands35.00 Aegean Traders Inc. Marshall Sorrento

    Islands36.00 Cretan Traders Inc. Marshall Flecha

    Islands37.00 Monteagle Shipping S.A. Marshall Oliva

    Islands38.00 Roscoe Marine Ltd. Marshall Rapallo

    Islands39.00 Iguana Shipping Company Limited Malta Iguana

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    SCHEDULE II

    Flag State

    MaltaMalta

    MaltaMalta

    MaltaMaltaMaltaMalta

    MaltaMaltaMaltaMalta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    ------------------------

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    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

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    Ship-Owning Subsidiaries withVessels under Construction

    40.00 Drillship Hydra Owners Inc. Marshall Islands DrillshipHull 1837

    41.00 Drillship Paros Owners Inc. Marshall Islands Drillship

    Hull 183842.00 Drillship Kithira Owners Inc. Marshall Islands DrillshipHull 1865

    43.00 Drillship Skopelos Owners Inc. Marshall Islands DrillshipHull 1866

    Ship-Owning Subsidiaries withVessels Sold

    44.00 Felicia Navigation Company Malta SolanaLimited

    45.00 Zatac Shipping Company Limited Malta Waikiki46.00 Atlas Owning Company Limited Marshall Islands Menorca47.00 Maternal Owning Company Limited Marshall Islands Lanzarote48.00 Royerton Shipping Company Malta Netadola

    Limited49.00 Lancat Shipping Company Limited Malta Matira50.00 Paternal Owning Company Limited Marshall Islands Formentera51.00 Fago Shipping Company Limited Malta Lanikai52.00 Hydrogen Shipping Company Malta Mostoles

    Limited53.00 Madras Shipping Company Limited Malta Alona54.00 Seaventure Shipping Limited Marshall Islands Hille

    Oldendorff 55.00 Classical Owning Company Limited Marshall Islands Delray56.00 Oxygen Shipping Company Limited Malta Shibumi

    57.00 Human Owning Company Limited Marshall Islands Estepona58.00 Helium Shipping Company Limited Malta Striggla59.00 Blueberry Shipping Company Malta Panormos

    Limited60.00 Platan Shipping Company Limited Malta Daytona61.00 Silicon Shipping Company Limited Malta Flecha62.00 Tolan Shipping Company Limited Malta Tonga63.00 Lansat Shipping Company Limited Malta Paragon64.00 Annapolis Shipping Company Malta Lanikai

    Schedule II-1-----------------------------------------------------------------------------------------------------------------------------------

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE3Form Type: 6-KPeriod End: Nov 30, 2009

    Date Filed: Nov 25, 2009

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    Limited (exLacerta)

    Ocean Rig's Subsidiaries65.00 Ocean Rig ASA Norway

    66.00 Ocean Rig Norway AS Norway67.00 Ocean Rig AS Norway68.00 Ocean Rig UK Ltd United Kingdom69.00 Ocean Rig Ltd United Kingdom70.00 Ocean Rig Ghana Ltd Ghana71.00 Ocean Rig USA AS Norway72.00 Ocean Rig 1 AS Norway73.00 Ocean Rig 2 AS Norway74.00 Ocean Rig Canada Inc. Canada75.00 Ocean Rig North Sea AS Norway76.00 Ocean Rig 1 Inc. Marshall Islands Leiv

    Eiriksson

    77.00 Ocean Rig 2 Inc. Marshall Islands EirikRaude78.00 Drill Rigs Holding Inc. Marshall Islands79.00 Primelead Holding Inc. Marshall Islands80.00 Ocean Rig Operations Inc. Marshall Islands81.00 Ocean Rig North Sea Inc. Marshall Islands82.00 Ocean Rig 1 Shareholders Inc. Marshall Islands83.00 Ocean Rig 2 Shareholders Inc. Marshall Islands84.00 Primelead Limited Cyprus85.00 Ocean Rig UDW Inc. Marshall Islands86.00 Drillships Investments Inc. Marshall Islands87.00 Drillships Holding Inc. Marshall Islands

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    ---------------

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    Bahamas

    Bahamas

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    Other Subsidiaries88.00 Wealth Management Inc. Marshall Islands89.00 Kerkyra Traders Inc. Marshall Islands90.00 Thrasymachus Challenge Inc. Marshall Islands

    91.00 Hippias Challenge Inc. Marshall Islands92.00 Prodicus Challenge Inc. Marshall Islands93.00 Gorgias Challenge Inc. Marshall Islands94.00 Callicles Challenge Inc. Marshall Islands95.00 Antiphon Challenge Inc. Marshall Islands96.00 Protagoras Challenge Inc. Marshall Islands97.00 Lycophron Challenge Inc. Marshall Islands98.00 Tinos Traders Inc. Marshall Islands99.00 Sifnos Traders Inc. Marshall Islands

    100.00 Thassos Traders Inc. Marshall Islands101.00 Milos Traders Inc. Marshall Islands102.00 Pounta Traders Inc. Marshall Islands103.00 Kallikrates Owning Company Limited Marshall Islands104.00 Iktinos Owning Company Limited Marshall Islands

    Schedule II-2---------------------------------------------------------------------------------------------------------------------

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE4Form Type: 6-KPeriod End: Nov 30, 2009

    Date Filed: Nov 25, 2009

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    SCHEDULE I

    Time of Sale Prospectus Prospectus dated October 17, 2008 relatingto the Shelf Securities The preliminary prospectus supplement datedNovember 17, 2009 relating to the Shares Term Sheet dated November 19, 2009

    Securities to be purchased: 26,100,000 shares of Common Stock

    Closing Date and Time: November 25 10:00 a.m., New York City timeClosing Location: Morgan, Lewis & Bockius LLP101 Park AvenueNew York, New York 10178

    Address for Notices to the Deutsche Bank Securities Inc.Underwriter: 60 Wall Street

    New York, New York 10005 Attention: Equity Capital Markets - SyndicateDesk

    with a copies to:

    Deutsche Bank Securities Inc.60 Wall StreetNew York, New York 10005

    Attention: General Counsel

    and

    Morgan, Lewis & Bockius LLP101 Park AvenueNew York, New York 10178

    Attention: Stephen P. Farrell, Esq.

    and

    Cleary Gottlieb Steen & Hamilton LLPOne Liberty PlazaNew York, NY 10006

    Attention: Leslie Silverman, Esq.

    Borrower: Winchester house

    Date Filed: Nov 25, 2009

    Registration Statement File No.: Registration Statement on Form F-3 (File No.333-146540)

    Address for Notices to the Share Deutsche Bank AG, London Branch

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE5Form Type: 6-KPeriod End: Nov 30, 2009

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    1 Great Winchester StreetLondon, UK EC2N 2DB

    with a copy to:

    Deutsche Bank Securities Inc.

    60 Wall StreetNew York, New York 10005

    Attention: General Counsel

    Address for Notices to the DDryShips Inc.Company: 80 Kifissias Avenue

    Amaroussa 15125 Athens, Greece Attention: Chief Executive Officer

    with a copy to:

    Seward & Kissel LLPOne Battery Park PlazaNew York, New York 10004

    Attention: Gary J. Wolfe, Esq.

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    VESSELS

    Country of Ship-Owning Subsidiaries with Incorporation VesselVessels in Operations

    1.00 Malvina Shipping Company Limited Malta Coronado2.00 Arleta Navigation Company Malta Xanadu

    Limited

    3.00 Selma Shipping Company Limited Malta La Jolla4.00 Samsara Shipping Company Limited Malta OceanCrystal

    5.00 Farat Shipping Company Limited Malta Toro6.00 Borsari Shipping Company Limited Malta Catalina7.00 Onil Shipping Company Limited Malta Padre8.00 Fabiana Navigation Company Malta Alameda

    Limited9.00 Karmen Shipping Company Limited Malta Sonoma

    10.00 Thelma Shipping Company Limited Malta Manasota11.00 Celine Shipping Company Limited Malta Mendocino12.00 Lotis Traders Inc. Marshall Delray

    Islands13.00 Tempo Marine Co. Marshall Maganari

    Islands14.00 Star Record Owning Company Marshall Ligari

    Limited Islands15.00 Argo Owning Company Limited Marshall Redondo

    Islands16.00 Rea Owning Company Limited Marshall Ecola

    Islands17.00 Gaia Owning Company Limited Marshall Samsara

    Islands18.00 Kronos Owning Company Limited Marshall Primera

    Islands

    19.00 Trojan Maritime Co. Marshall BrisbaneIslands

    20.00 Dione Owning Company Limited Marshall MarbellaIslands

    21.00 Phoebe Owning Company Limited Marshall MajorcaIslands

    22.00 Uranus Owning Company Limited Marshall Levanto (ex.Islands Heinrich

    Oldendorff)

    Date Filed: Nov 25, 2009

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE6Form Type: 6-KPeriod End: Nov 30, 2009

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    SCHEDULE II

    Flag State

    MaltaMalta

    MaltaMalta

    MaltaMaltaMaltaMalta

    MaltaMaltaMaltaMalta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

    Malta

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    Ship-Owning Subsidiaries withVessels under Construction

    40.00 Drillship Hydra Owners Inc. Marshall Islands DrillshipHull 1837

    41.00 Drillship Paros Owners Inc. Marshall Islands Drillship

    Hull 183842.00 Drillship Kithira Owners Inc. Marshall Islands DrillshipHull 1865

    43.00 Drillship Skopelos Owners Inc. Marshall Islands DrillshipHull 1866

    Ship-Owning Subsidiaries withVessels Sold

    44.00 Felicia Navigation Company Malta SolanaLimited

    45.00 Zatac Shipping Company Limited Malta Waikiki46.00 Atlas Owning Company Limited Marshall Islands Menorca47.00 Maternal Owning Company Limited Marshall Islands Lanzarote48.00 Royerton Shipping Company Malta Netadola

    Limited49.00 Lancat Shipping Company Limited Malta Matira50.00 Paternal Owning Company Limited Marshall Islands Formentera51.00 Fago Shipping Company Limited Malta Lanikai52.00 Hydrogen Shipping Company Malta Mostoles

    Limited53.00 Madras Shipping Company Limited Malta Alona54.00 Seaventure Shipping Limited Marshall Islands Hille

    Oldendorff 55.00 Classical Owning Company Limited Marshall Islands Delray56.00 Oxygen Shipping Company Limited Malta Shibumi

    57.00 Human Owning Company Limited Marshall Islands Estepona58.00 Helium Shipping Company Limited Malta Striggla59.00 Blueberry Shipping Company Malta Panormos

    Limited60.00 Platan Shipping Company Limited Malta Daytona61.00 Silicon Shipping Company Limited Malta Flecha62.00 Tolan Shipping Company Limited Malta Tonga63.00 Lansat Shipping Company Limited Malta Paragon64.00 Annapolis Shipping Company Malta Lanikai

    Schedule II-1-----------------------------------------------------------------------------------------------------------------------------------

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE7Form Type: 6-KPeriod End: Nov 30, 2009

    Date Filed: Nov 25, 2009

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    Limited (exLacerta)

    Ocean Rig's Subsidiaries65.00 Ocean Rig ASA Norway

    66.00 Ocean Rig Norway AS Norway67.00 Ocean Rig AS Norway68.00 Ocean Rig UK Ltd United Kingdom69.00 Ocean Rig Ltd United Kingdom70.00 Ocean Rig Ghana Ltd Ghana71.00 Ocean Rig USA AS Norway72.00 Ocean Rig 1 AS Norway73.00 Ocean Rig 2 AS Norway74.00 Ocean Rig Canada Inc. Canada75.00 Ocean Rig North Sea AS Norway76.00 Ocean Rig 1 Inc. Marshall Islands Leiv

    Eiriksson

    77.00 Ocean Rig 2 Inc. Marshall Islands EirikRaude78.00 Drill Rigs Holding Inc. Marshall Islands79.00 Primelead Holding Inc. Marshall Islands80.00 Ocean Rig Operations Inc. Marshall Islands81.00 Ocean Rig North Sea Inc. Marshall Islands82.00 Ocean Rig 1 Shareholders Inc. Marshall Islands83.00 Ocean Rig 2 Shareholders Inc. Marshall Islands84.00 Primelead Limited Cyprus85.00 Ocean Rig UDW Inc. Marshall Islands86.00 Drillships Investments Inc. Marshall Islands87.00 Drillships Holding Inc. Marshall Islands

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    ---------------

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    Bahamas

    Bahamas

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    Other Subsidiaries88.00 Wealth Management Inc. Marshall Islands89.00 Kerkyra Traders Inc. Marshall Islands90.00 Thrasymachus Challenge Inc. Marshall Islands

    91.00 Hippias Challenge Inc. Marshall Islands92.00 Prodicus Challenge Inc. Marshall Islands93.00 Gorgias Challenge Inc. Marshall Islands94.00 Callicles Challenge Inc. Marshall Islands95.00 Antiphon Challenge Inc. Marshall Islands96.00 Protagoras Challenge Inc. Marshall Islands97.00 Lycophron Challenge Inc. Marshall Islands98.00 Tinos Traders Inc. Marshall Islands99.00 Sifnos Traders Inc. Marshall Islands

    100.00 Thassos Traders Inc. Marshall Islands101.00 Milos Traders Inc. Marshall Islands102.00 Pounta Traders Inc. Marshall Islands103.00 Kallikrates Owning Company Limited Marshall Islands104.00 Iktinos Owning Company Limited Marshall Islands

    0.00

    Schedule II-2---------------------------------------------------------------------------------------------------------------------

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE8Form Type: 6-KPeriod End: Nov 30, 2009

    Date Filed: Nov 25, 2009

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    Section 1.02 Other Definitions.

    Term Defined in Section"Additional Shares" 5.02(a)"Change of Control" 4.01(a)"Closing Sale Price Condition" 6.01(a)"Conversion Agent" 2.03"Conversion Date" 6.02"Conversion Notice" 6.02

    "Conversion Obligation" 6.02"Conversion Period" 6.05(b)"Conversion Price" 6.06"Daily Conversion Value" 6.05(b)"Daily Measurement Value" 6.05(b)"Daily Net Share Settlement Value" 6.05(b)"Daily Settlement Amount" 6.05(b)"Daily VWAP" 6.05(b)"Effective Date" 5.02(a)"Expiration Date" 6.06(e)"Expiration Time" 6.06(e)"Fundamental Change" 4.01(a)"Fundamental Change Purchase Date" 4.01(a)

    "Fundamental Change Purchase Price" 4.01(a)"Interest Payment Date" 5.01(a)"Make Whole Adjustment Event" 5.02(a)

    "Merger Event" 6.12"Reference Property" 6.12(a)"Record Date" 5.01(a)"Settlement Method" 6.05(a)"Specified Dollar Amount" 6.05(b)"Spin-Off" 6.06(c)"Stock Price" 5.02(a)

    "Termination of Trading" 4.01(a)"Unissued Shares" 4.01(a)"Valuation Period" 6.06(c)"Weighted Average Consideration" 6.12(c)

    "Fundamental Change Purchase Notice" 4.01(c)

    "Make Whole Adjustment Event Period" 5.02(a)

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE9Form Type: 6-KPeriod End: Nov 30, 2009

    Date Filed: Nov 25, 2009

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    EffectiveDate 5.75$ 6.00$ 7.00$ 8.00$ 9.00$ 10.00$November 25, 2009 34.78 32.23 24.54 19.68 16.35 13.91December 1,

    2010 34.78 30.60 22.30 17.40 14.24 12.03December 1,

    2011 34.78 29.09 19.76 14.69 11.70 9.76December 1,

    2012 34.78 27.70 16.69 11.29 8.54 6.97December 1,2013 34.78 27.61 12.11 6.57 4.49 3.60

    December 1,2014 34.78 27.52 3.72 0.00 0.00 0.00

    Date Filed: Nov 25, 2009

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE10Form Type: 6-KPeriod End: Nov 30, 2009

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    Stock Price

    12.50$ 15.00$ 20.00$ 25.00$ 30.00$ 35.00$ 40.00$ 50.00$

    9.83 7.26 4.13 2.36 1.28 0.63 0.25 0.00

    8.50 6.31 3.65 2.11 1.16 0.57 0.22 0.00

    6.86 5.13 3.02 1.78 0.99 0.49 0.18 0.00

    4.89 3.69 2.21 1.33 0.76 0.38 0.14 0.00

    2.57 1.96 1.19 0.73 0.43 0.22 0.07 0.00

    0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

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    CP = CP0 OS0OS

    where

    CP0 = the Conversion Price in effect immediately prior to the open of business on the Ex-Dividend Datefor such dividend or distribution, or immediately

    prior to the open of business on the effectivedate of such subdivision or combination of CommonStock, as the case may be;

    Date Filed: Nov 25, 2009

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE11Form Type: 6-KPeriod End: Nov 30, 2009

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    CP = the Conversion Price in effect immediately after the open of business on the Ex-Dividend Date for such dividend or distribution, or immediatelyafter the open of business on the effective dateof such subdivision or combination of CommonStock, as the case may be;

    OS0 = the number of shares of Common Stock outstandingimmediately prior to the open of business on theEx-Dividend Date for such dividend or

    distribution, or immediately prior to the open of business on the effective date of such subdivisionor combination of Common Stock, as the case maybe; and

    OS = the number of shares of Common Stock outstandingimmediately after such dividend or distribution,or immediately after the effective date of suchsubdivision or combination of Common Stock, as thecase may be.

    Date Filed: Nov 25, 2009

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE12Form Type: 6-KPeriod End: Nov 30, 2009

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    CP = CP0 OS0 + YOS0 + X

    where

    CP0 = the Conversion Price in effect immediately prior to the open of business on the Ex-Dividend Datefor such distribution;

    CP = the Conversion Price in effect immediately after the open of business on the Ex-Dividend Date for such distribution;

    Date Filed: Nov 25, 2009

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE13Form Type: 6-KPeriod End: Nov 30, 2009

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    OS0 = the number of shares of the Common Stock that areoutstanding immediately prior to the open of business on the Ex-Dividend Date for suchdistribution;

    X = the total number of shares of the Common Stockissuable pursuant to such rights, options or warrants; and

    Y = the number of shares of the Common Stock equal tothe aggregate price payable to exercise suchrights, options or warrants, divided by theaverage of the Closing Sale Prices of Common Stockover the 10 consecutive Trading Day period endingon, and including, the Trading Day immediatelypreceding the Ex-Dividend Date relating to suchdistribution.

    Date Filed: Nov 25, 2009

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE14Form Type: 6-KPeriod End: Nov 30, 2009

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    CP = CP0 SP0 - FMVSP0

    where

    CP0 = the Conversion Price in effect immediately prior to the open of business on the Ex-Dividend Datefor such distribution;

    CP = the Conversion Price in effect immediately after the open of business on the Ex-Dividend Date for such distribution.

    SP0 = the average of the Closing Sale Prices of theCommon Stock over the 10 consecutive Trading Dayperiod ending on, and including, the Trading Dayimmediately preceding the Ex-Dividend Date for such distribution; and

    FMV = the fair market value (as determined by the Boardof Directors) of the shares of Capital Stock,evidences of indebtedness, assets or propertydistributed with respect to each outstanding shareof the Common Stock as of the open of business onthe Ex-Dividend Date for such distribution.

    25-----------------------------------------------------------------------------------------------------------------------------------------------

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE15Form Type: 6-KPeriod End: Nov 30, 2009

    Date Filed: Nov 25, 2009

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    CP = CP0 MP0FMV + MP0

    where

    CP0 = the Conversion Price in effect immediately prior to the open of business on the Ex-Dividend Datefor the Spin-Off;

    CP = the Conversion Price in effect immediately after the open of business on the Ex-Dividend Date for the Spin-Off;

    FMV = the average of the Closing Sale Prices of theCapital Stock or similar equity interestsdistributed to holders of the Common Stockapplicable to one share of the Common Stock over the first 10 consecutive Trading Day periodimmediately following, and including, theEx-Dividend Date for the Spin-Off (such period,the "Valuation Period"), and

    Date Filed: Nov 25, 2009

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE16Form Type: 6-KPeriod End: Nov 30, 2009

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    CP = CP0 SP0 - CSP0

    where

    CP0 = the Conversion Price in effect immediately prior to the open of business on the Ex-Dividend Datefor such dividend or distribution;

    CP = the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such dividend or distribution;

    SP0 = the average of the Closing Sale Prices of theCommon Stock over the 10 consecutive Trading Dayperiod ending on, and including, the Trading Dayimmediately preceding the Ex-Dividend Date for such dividend or distribution; and

    C = the amount in cash per share the Company pays or distributes to holders of its Common Stock.

    Date Filed: Nov 25, 2009

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE17Form Type: 6-KPeriod End: Nov 30, 2009

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    CP = CP0 OS0 x SP AC + (OS x SP)

    where

    CP0 = the Conversion Price in effect immediately prior to the open of business on the Trading Day nextsucceeding the Expiration Date;

    CP = the Conversion Price in effect immediately after the open of business on the Trading Day nextsucceeding the Expiration Date;

    AC = the aggregate value of all cash and any other consideration (as determined by the Board of Directors) paid or payable for shares of CommonStock purchased in such tender or exchange offer;

    OS0 = the number of shares of Common Stock outstandingimmediately prior to the time (the "ExpirationTime") such tender or exchange offer expires(prior to giving effect to such tender offer or exchange offer);

    OS = the number of shares of Common Stock outstandingimmediately after the Expiration Time (after giving effect to such tender offer or exchangeoffer); and

    SP = the average of the Closing Sale Prices of CommonStock over the 10 consecutive Trading Day periodcommencing on, and including, the Trading Day nextsucceeding the Expiration Date.

    Date Filed: Nov 25, 2009

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE18Form Type: 6-KPeriod End: Nov 30, 2009

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    this global Security have been made:

    Principal Amountof this Global Amount of Amount of Security Decrease in Increase inFollowing Such Principal Principal

    Decrease Date Authorized Amount Amountof Exchange Signatory of of this Global of this Global(or Increase) Trustee Security Security

    SCHEDULE OF EXCHANGES OF NOTES

    The following exchanges, redemptions, repurchases or conversions of a part of

    Created by EDGAR Online, Inc.

    DRYSHIPS INC.TABLE19Form Type: 6-KPeriod End: Nov 30, 2009

    Date Filed: Nov 25, 2009