Seanergy Maritime Holdings Corp. Announces Letter of Intent for Strategic Acquisition of a Controlling Interest in Maritime Capital Shipping Limited

ATHENS, Greece, May 3, 2010 - Seanergy Maritime Holdings Corp. (the "Company") (NASDAQ: SHIP; SHIP.W)
announced today that it has entered into a Letter of Intent
with Maritime Capital Shipping (Holdings) Limited, of the British Virgin
Islands ("Seller") to acquire a 51% ownership interest in Maritime Capital
Shipping Limited, of Bermuda ("MCS") for a purchase price of USD 33 million.

MCS is based in Hong Kong and is a provider of international maritime
transportation services through its ownership of dry bulk vessels. MCS was
founded in 2006 by unaffiliated third parties, a team of dedicated
professionals with many years of experience operating vessels in
the dry bulk sector. The company generates its revenues by employing its
ships on time and bareboat charters with well established shipping operators.
Its current fleet is comprised of 9 Handysize dry bulk carriers with a
combined cargo-carrying capacity of 249,236 dwt and an average fleet age of
approximately 10.7 years.

Maritime Capital Shipping (Holdings) Limited, a company
controlled by members of the Restis family, will retain a 49% ownership
interest in MCS.

As a result of the acquisition, the size of the Company's
fleet will increase from 11 to 20 dry bulk vessels with a combined
cargo-carrying capacity of approximately 1,292,532 dwt and an average fleet
age of 12.6 years, comprising of 4 Capesize, 3 Panamax, 2 Supramax, 1
Handymax and 10 Handysize dry bulk carriers.

The acquisition is subject to final documentation, expected to
be entered into by the Seller and the Company by June 1, 2010.

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp., the successor to Seanergy
Maritime Corp., is a Marshall Islands corporation with its executive offices
in Athens, Greece. The Company is engaged in the transportation of dry bulk
cargoes through the ownership and operation of dry bulk carriers.

The Company's initial fleet comprised two Panamax, two
Supramax and two Handysize dry bulk carriers that Seanergy purchased and took
delivery of in the third and fourth quarters of 2008 from companies
associated with members of the Restis family. In August 2009, the Company
acquired a controlling interest in Bulk Energy Transport (Holdings) Limited
("BET") which owns five drybulk carriers, four Capesize and one Panamax.

As a result, the Company's current controlled fleet includes
11 drybulk carriers (4 Capesize, 3 Panamax, 2 Supramax and 2 Handysize
vessels) with a total carrying capacity of 1,043,296 dwt and an average age
of 14 years.

The Company's common stock and warrants trade on the NASDAQ
Global Market under the symbols SHIP and SHIP.W, respectively.

Forward-Looking Statements

This press release contains forward-looking statements (as
defined in Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended) concerning future
events and the Company's growth strategy and measures to implement such
strategy. Words such as "expects," "intends," "plans," "believes,"
"anticipates," "hopes," "estimates," and variations of such words and similar
expressions are intended to identify forward-looking statements. Although the
Company believes that such expectations will prove to have been correct,
these statements involve known and unknown risks and are based upon a number
of assumptions and estimates, which are inherently subject to significant
uncertainties and contingencies, many of which are beyond the control of the
Company. Actual results may differ materially from those expressed or implied
by such forward-looking statements. Factors that could cause actual results
to differ materially include, but are not limited to, the scope and timing of
SEC and other regulatory agency review, competitive factors in the market in
which the Company operates; risks associated with operations outside the
United States; and other factors listed from time to time in the Company's
filings with the Securities and Exchange Commission. The Company's filings
can be obtained free of charge on the SEC's website at www.sec.gov. The
Company expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements contained
herein to reflect any change in the Company's expectations with respect
thereto or any change in events, conditions or circumstances on which any
statement is based.

    For further information please contact:

    Seanergy Maritime Holdings Corp.
    Dale Ploughman - Chief Executive Officer
    Christina Anagnostara - Chief Financial Officer
    Tel: +30-210-9638461
    E-mail: ir@seanergymaritime.com

    Investor Relations / Media
    Capital Link, Inc.
    Paul Lampoutis
    230 Park Avenue Suite 1536
    New York, NY 10169
    Tel. +1-212-661-7566
    E-mail: seanergy@capitallink.com

For further information please contact: For further information please contact: Seanergy Maritime Holdings Corp., Dale Ploughman - Chief Executive Officer, Christina Anagnostara - Chief Financial Officer, Tel: +30-210-9638461, E-mail: ir at seanergymaritime.com; Investor Relations / Media, Capital Link, Inc., Paul Lampoutis, 230 Park Avenue Suite 1536, New York, NY 10169, Tel. +1-212-661-7566, E-mail: seanergy at capitallink.com