Seanergy Maritime Holdings Corp. Announces the Acquisition of a Controlling Interest in Maritime Capital Shipping Limited and the Expansion of its Controlled Fleet to 20 Dry Bulk Vessels

ATHENS, Greece, June 2, 2010 - Seanergy Maritime Holdings Corp. (the "Company") (NASDAQ: SHIP; SHIP.W)
announced today that the Company has completed the final documentation, after
entering into a Share and Purchase Agreement with Maritime Capital Shipping
(Holdings) Limited, a company incorporated in the British Virgin Islands (the
"Seller"), for the acquisition of a 51% ownership interest in Maritime
Capital Shipping Limited, a company incorporated in Bermuda ("MCS"), for a
purchase price of $33.0 million. The purchase price was paid to the Seller
from the proceeds of the Company's recent equity offering completed in
February 2010 and from the Company's cash reserves. The Seller, which is
controlled by the Restis family, one of the Company's major shareholders, has
retained a 49% ownership interest in MCS.

As a result of the acquisition, the size of the Company's fleet has
increased from 11 to 20 dry bulk vessels, comprising four Capesize, three
Panamax, two Supramax, one Handymax and 10 Handysize dry bulk carriers, with
a combined cargo-carrying capacity of approximately 1.3 million dwt and an
average fleet age of 12.7 years.

Dale Ploughman, the Company's Chief Executive Officer, stated: "We are
pleased to announce the completion of the MCS acquisition on schedule. We
view this as a strategic and transformational acquisition for Seanergy. It
has increased our controlled fleet to 20 vessels while it has decreased our
average fleet age, and we believe it expands our revenue and profit
generation capacity.

"Furthermore, we believe the MCS acquisition enhances the overall
stability and visibility of our cash flows. 89% of MCS' ownership days in
2010, 67% for 2011, 59% for 2012 and 41% for 2013 are already secured under
fixed employment with corresponding revenues of approximately $117 million
and EBITDA of $99 million for the respective period.

"As a result of the acquisition of MCS, our fleet will have a more
balanced charter portfolio enabling us to benefit both from secured cash
flows from period employment and from the expected continued market upside
with the portion of our fleet opening for re-chartering. On a combined fleet
basis, we have secured under period employment 93% of ownership days in 2010,
58% for 2011, 27% for 2012 and 19% for 2013.

"We believe that we acquired MCS at an attractive price. The projected
adjusted EBITDA from the MCS contribution is estimated to be $23 million for
the remainder of 2010 and $40 million for 2011 implying a purchase price to
EBITDA multiple of 1.6 times on an annualized basis.

"In the short period of less than two years as a publicly-traded company,
we have more than tripled our controlled fleet from six to 20 vessels and
quadrupled our combined cargo-carrying capacity, without sacrificing the
strength of our balance sheet. We also believe that the timing of the MCS
acquisition is optimal, as it enables Seanergy to benefit right away from the
gradual global economic recovery with a larger and younger fleet.

"Our objective is to continue to build Seanergy into a leading player in
the global shipping industry with prudent and well-timed acquisitions. We
believe Seanergy is one of the most undervalued companies amongst our peers
and we will continue to make every effort to increase Seanergy's shareholder
value."

The following tables provide information with respect to the Company's
expanded controlled fleet including the MCS vessels.

    SEANERGY VESSELS
    Vessel Name           Vessel Class  Capacity  Year Built TC Rate    Time
                                                               ($)    Charter
                                         (DWT)                         Expiry
                                                                     (latest)
    M/V Bremen Max          Panamax      73,503      1993     15,500   Sept.
                                                                        2010
    M/V Hamburg Max         Panamax      72,338      1994     15,500   Sept.
                                                                        2010
    M/V Davakis G.          Supramax     54,051      2008     21,000    Jan.
                                                                        2011
    M/V Delos Ranger        Supramax     54,051      2008     20,000     Mar
                                                                        2011
    M/V African Zebra (1)   Handymax     38,623      1985      7,500    Aug.
                                                                        2011
    M/V African Oryx (1)   Handysize     24,110      1997      7,000    Aug.
                                                                        2011
    M/V BET Commander (2)   Capesize    149,507      1991     24,000    Dec.
                                                                        2011
    M/V BET Fighter (2)     Capesize    173,149      1992     25,000   Sept.
                                                                        2011
    M/V BET Prince (2)      Capesize    163,554      1995     25,000    Jan.
                                                                        2012
    M/V BET Scouter (2)     Capesize    171,175      1995     26,000    Oct.
                                                                        2011
    M/V BET Intruder (2)    Panamax      69,235      1993     15,500   Sept.
                                                                        2011
    Total                             1,043,296   14.4 yrs

(1) Represents gross floor charter rates excluding a 50%
adjusted profit share distributed equally between owners and charterers
calculated on the average spot Time Charter Routes quoted on the Baltic
Supramax Index for a period of 22 to 25 months.

(2) 50% owned and controlled by the Company.

    MCS VESSELS
    Vessel Name           Vessel    Capacity Year Built  TC Rate ($)    Time
                           Class                                      Charter
                                     (DWT)                             Expiry
                                                                     (latest)
    M/V Fiesta           Handysize   29,519     1997        BHSI        Nov.
                                                        increased by    2013
                                                        100.63% minus
                                                            Opex
    M/V Pacific Fantasy  Handysize   29,538     1996        BHSI        Jan.
                                                        increased by    2014
                                                        100.63% minus
                                                            Opex
    M/V Pacific Fighter  Handysize   29,538     1998        BHSI        Nov.
                                                        increased by    2013
                                                        100.63% minus
                                                            Opex
    M/V Clipper Freeway  Handysize   29,538     1998        BHSI        Feb.
                                                        increased by    2014
                                                        100.63% minus
                                                            Opex
    M/V African Joy      Handysize   26,482     1996       13,250       Aug.
                                                                        2010
    M/V African Glory    Handysize   24,252     1998       14,500       Dec.
                                                                        2010
    M/V Asian Grace      Handysize   20,412     1999       13,500       Oct.
                                                                        2010
    M/V Clipper Glory    Handysize   29,982     2007       25,000       Aug.
                                                                        2012
    M/V Clipper Grace    Handysize   29,987     2007       25,000       Aug.
                                                                        2012
           Total                    249,248   10.6 yrs

    Combined Total                1,292,544   12.7 yrs

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, one
Handymax and one 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,
which owns five dry bulk carriers, four Capesize and one Panamax. In May
2010, the Company acquired a controlling interest in Maritime Capital
Shipping Limited which owns nine Handysize dry bulk carriers.

The Company's current controlled fleet includes 20 dry bulk carriers
(four Capesize, three Panamax, two Supramax, one Handymax and 10 Handysize
vessels) with a total carrying capacity of approximately 1.3 million dwt and
an average fleet age of 12.7 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
Securities and Exchange Commission ("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 SEC. 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: 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