Seanergy Maritime Holdings Corp. Completes its Acquisition of the Remaining Interest in Bulk Energy Transport (Holdings) Limited

ATHENS, Greece, October 25, 2010 - Seanergy Maritime Holdings Corp. (the "Company") (NASDAQ:
SHIP; SHIP.W) announced today that the Company has completed the previously
announced acquisition of the remaining 50% ownership interest in Bulk Energy
Transport (Holdings) Limited ("BET"). The Company had acquired a 50%
controlling interest in BET in August 2009.

As a result of this acquisition, Seanergy now owns 100% of
BET, and has increased the size of its wholly owned fleet from fifteen to 20
vessels. Currently, the Company's wholly owned fleet comprises four Capesize,
three Panamax, two Supramax, one Handymax and ten Handysize dry bulk carriers
with aggregate cargo-carrying capacity of approximately 1.3 million dwt and
an average fleet age of approximately 12.8 years.

Dale Ploughman, the Company's Chairman and Chief Executive
Officer, stated: "Following the acquisition of Maritime Capital Shipping
Limited in September, we are now very pleased to announce the completion of
the BET transaction on schedule. As planned, we have now completed our
expansion to 20 wholly owned vessels. This is a transformational transaction
for Seanergy as we have significantly grown our wholly owned fleet and,
thereby, our revenue generating capability. We remain committed to our goal
to strengthen our position in the global shipping industry by building
Seanergy into a leading player."

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 ("BET"), which owns four Capesize and one Panamax dry bulk carriers.
In May 2010, the Company acquired a controlling interest in Maritime Capital
Shipping Limited ("MCS"), which owns nine Handysize dry bulk carriers. In
September 2010, the Company completed the acquisition of the remaining 49% in
MCS and in October 2010 it completed the acquisition of the remaining 50% in
BET.

Following the MCS and BET acquisitions, the Company owns a
fleet of 20 drybulk carriers (four Capesize, three Panamax, two Supramax and
one Handymax and ten Handysize vessels) with a total carrying capacity of
approximately 1,292,544 dwt and an average fleet age of 12.8 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