Earnings Release: Thursday, May 26, 2011, After Market Close
Conference Call and Webcast: Friday, May 27, 2011, at 10:00am EDT

May 19, 2011 – Athens, Greece – Paragon Shipping Inc. (NYSE: PRGN), a global shipping transportation company specializing in drybulk cargoes, announced today that it will release its results for the first quarter ended March 31, 2011, after the market closes in New York on Thursday, May 26, 2011. Paragon’s management team will host a conference call to discuss the Company's financial results on Friday, May 27, 2011, at 10:00am EDT.

ATHENS, Greece, April 29, 2011 - Paragon Shipping Inc. (NYSE: PRGN), or the Company, a global shipping transportation company specializing in drybulk cargoes, announced today that it has completed the sale and delivery to Box Ships Inc., of both the Box Trader and Box Voyager, two 3,426 TEU high specification containership vessels built in 2010 in exchange for 2,266,600 shares of Box Ships common stock and approximately $69.2 million in cash. Box Ships Inc., was formed by Paragon Shipping and is trading on the NYSE under the symbol "TEU."

ATHENS, Greece, April 4, 2011 - Paragon Shipping Inc. (NYSE: PRGN), or the Company, a global shipping transportation company specializing in drybulk cargoes and containers, announced today that its wholly-owned subsidiary, Box Ships Inc. ("Box Ships"), has filed a registration statement with the U.S. Securities and Exchange Commission (the "SEC") for an initial public offering (the "Offering") of 10,000,000 shares of common stock of Box Ships.

Posted on Tuesday, March 8, 2011

ATHENS, Greece, March 8, 2011 - Paragon Shipping Inc. (NYSE: PRGN), or the Company, a global shipping transportation company specializing in drybulk cargoes and containers, filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2010 with the Securities and Exchange Commission (the "SEC") on March 4, 2011.

ATHENS, Greece, March 1, 2011 - Paragon Shipping Inc. (NYSE: PRGN), or the Company, a global shipping transportation company specializing in drybulk cargoes and containers, announced today its results for the fourth quarter and year ended December 31, 2010.

ATHENS, Greece, November 15, 2010 - Paragon Shipping Inc. (NYSE: PRGN), or the Company, a global shipping transportation company specializing in drybulk cargoes and containers, announced today its results for the third quarter and nine months ended September 30, 2010.

Posted on Monday, August 9 2010
ATHENS, Greece, August 9, 2010 - Paragon Shipping Inc. (NYSE: PRGN), a global shipping transportation company specializing in drybulk cargoes and containers, announced today its results for the second quarter and six months ended June 30, 2010.

Posted on Wednesday, July 21 2010
ATHENS, Greece, July 21, 2010 - Paragon Shipping Inc. (NYSE: PRGN), a global shipping transportation company specializing in dry cargoes, agreed to sell one of its 1995 built dry bulk handymax vessels (the CLEAN SEAS). The Company also announced that it has entered into a two year time charter contract for each of the two, newly acquired, container vessels which will be named BOX TRADER and BOX VOYAGER. The container vessels have been contracted on a fixed rate period time charter term of 24 months (plus / minus 45 days) with CSAV Valparaiso Chile, with delivery dates starting from the middle of August and through the first week of September 2010.

Posted on Wednesday, July 14 2010
ATHENS, Greece, July 14, 2010 - Paragon Shipping Inc. (NYSE: PRGN), or the Company, a global shipping transportation company, announced today that its Board of Directors has appointed Mr. Michael Bodouroglou, Chairman and Chief Executive Officer of Paragon Shipping, to act as Interim Chief Financial Officer of the Company.

Posted on Wednesday, June 30 2010
ATHENS, Greece, June 30, 2010 - Paragon Shipping Inc. (NYSE: PRGN), or the Company, a global shipping transportation company, announced today that it has sold one of its newbuilding Kamsarmax contracts and has also entered into agreements to acquire two 3,400 TEU newly built containerships.