updated 5/9/2011 4:48:04 PM ET 2011-05-09T20:48:04

ATHENS, Greece, May 9, 2011 (GLOBE NEWSWIRE) -- Diana Containerships Inc. (Nasdaq:DCIX) today announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed public offering of shares of its common stock having a maximum value of $150.0 million, or $172.5 million if the underwriters exercise their over-allotment option in full. Wells Fargo Securities, BofA Merrill Lynch and Jefferies & Company, Inc. are acting as joint-book running managers.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

When available, copies of the prospectus relating to the offering may be obtained from the offices of Wells Fargo Securities, Attn: Equity Syndicate Dept., 375 Park Avenue, New York, New York 10152, Telephone: (800) 326-5897, E-mail: cmclientsupport@wellsfargo.com, BofA Merrill Lynch, Attn: Prospectus Department, 4 World Financial Center, New York, New York 10080, E-mail: dg.prospectus_requests@baml.com and Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY 10022, at 877-547-6340, E-mail: Prospectus_Department@Jefferies.com.

CONTACT: Corporate Contact:
         Ioannis Zafirakis
         Director, Chief Operating Officer and Secretary
         Telephone: + 30-210-947-0000
         Email: izafirakis@dcontainerships.com
         
         
         Investor and Media Relations:
         Edward Nebb
         Comm-Counsellors, LLC
         Telephone: + 1-203-972-8350
         Email: enebb@optonline.net

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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