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5,000,000 shares of Excel

5,000,000 shares of Excel
Excel Maritime Carriers Ltd. plans to offer 5,000,000 shares of the Company's Class A common stock ("Class A Shares") in a public offering.

Excel Maritime Carriers Ltd. plans to offer 5,000,000 shares of the Company's Class A common stock ("Class A Shares") in a public offering.

Excel Maritime Carriers Ltd, an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced yesterday that it plans to offer 5,000,000 shares of the Company's Class A common stock ("Class A Shares") in a public offering. As part of the offering, the Company has granted the underwriters a 30-day option to purchase an additional 750,000 Class A Shares to cover over-allotments, if any. The Company expects to use the net offering proceeds for repayment of debt as well as to build up its committed capital expenditure reserve account, which the Company may utilize for future capital expenditure requirements.

The Class A Shares trade on the New York Stock Exchange under the symbol "EXM."

The joint book running managers for this offering are Citi, Deutsche Bank Securities Inc. and UBS Investment Bank.

This offering is being made only by means of a prospectus supplement and accompanying base prospectus. When available, copies of the prospectus supplement and accompanying base prospectus related to this offering may be obtained from: Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 (tel: 1-800-831-9146), Deutsche Bank Securities, Attention: Prospectus Department, 100 Plaza One, Jersey City, NJ 07311 (tel: 1-800-503-4611) and UBS Investment Bank, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171 (tel: 1-888-827-7275).

The registration statement on Form F-3 relating to these securities has been filed with the Securities and Exchange Commission (the "SEC") and was declared effective on August 9, 2007. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

www.TurkishMaritime.com.tr

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