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Diana Containerships Inc. Announces Direct Continuation Of Time Charter Agreement For M/v Centaurus With CMA CGM

ATHENS, Greece, June 10, 2013 (GLOBE NEWSWIRE) -- Diana Containerships Inc. (Nasdaq:DCIX), a global shipping company specializing in owning and operating containerships, today announced that it has agreed to extend the present time charter contract with CMA CGM S.A., Marseille, France, for its Panamax container vessel, the m/v Centaurus for a period of minimum six (6) months to maximum ten (10) months. The gross charter rate remains US$7,500 per day, minus a 3.5% commission paid to third parties.The new charter period will commence on August 13, 2013.

This employment is anticipated to generate approximately US$1.35 million of gross revenue for the minimum scheduled period of the charter.

The m/v Centaurus is a 3,426 TEU container vessel built in 2010.

Upon completion of the sale of m/v Malacca as previously announced, Diana Containerships Inc.'s fleet will consist of 8 Panamax container vessels. A table describing the current Diana Containerships Inc. fleet can be found on the Company's website, www.dcontainerships.com . Information included on the Company's website does not constitute a part of this press release.

About the Company

Diana Containerships Inc. is a Marshall Islands corporation founded in 2010 to own and operate containerships and pursue containership acquisition opportunities. Diana Containerships Inc. intends to continue to capitalize on investment opportunities by purchasing additional containerships in the secondhand market, from other companies, shipyards and lending institutions, and may also enter into newbuilding contracts with shipyards for new containerships.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

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