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Paragon Shipping Announces Date Of Second Quarter And Six Months Ended June 30, 2012 Results, Conference Call And Webcast

ATHENS, Greece, Aug. 21, 2012 /PRNewswire/ -- Paragon Shipping Inc. (NYSE: PRGN) ("Paragon Shipping" or the "Company"), a global shipping transportation company specializing in drybulk cargoes, announced today that it will release its results for the second quarter and six months ended June 30, 2012, before the market opens in New York on Thursday, August 23, 2012. Paragon's management team will host a conference call to discuss the Company's financial results the same day at 9:00 am ET.

Conference Call and Webcast details:

Participants should dial into the call ten minutes before the scheduled time using the following numbers 1-877-317-6789 ( USA) or +1-412-317-6789 (international) to access the call. A replay of the conference call will be available until August 31, 2012 and can be accessed by dialing 1-877-344-7529 ( USA) or +1-412-317-0088 (international) and using passcode 10017773.

Slides and audio webcast:

There will also be a simultaneous live webcast through the Company's website, www.paragonship.com. Participants should register on the website approximately ten minutes prior to the start of the webcast.

About Paragon Shipping

Paragon Shipping is a Marshall Islands-based international shipping company with executive offices in Athens, Greece, specializing in the transportation of drybulk cargoes. The Company's current fleet consists of twelve drybulk vessels with a total carrying capacity of 779,270 dwt. In addition, the Company's current newbuilding program consists of two Handysize drybulk carriers that are scheduled to be delivered in 2012 and two 4,800 TEU Containerships that are scheduled to be delivered in 2013. Paragon Shipping has granted Box Ships Inc., an affiliated company, the option to acquire its two Containerships under construction. For more information, visit: www.paragonship.com (the information contained on the Company's website does not constitute part of this press release).

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