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[SSP]

ESEA 21 bucks now, my Fav Greek stock #msg-16395929:

Euroseas Ltd. Declares Quarterly Dividend of $0.29 per Common Share 
   
 MAROUSSI, ATHENS, GREECE, Oct 16, 2007 (MARKET WIRE via COMTEX) -- 
 	Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and 
 container carrier vessels and a provider of seaborne transportation 
 for drybulk and containerized cargoes, announced today that it has 
 declared a dividend of $0.29 per common share for the third quarter 
 of 2007. The dividend is payable on November 28, 2007 to all 
 shareholders of record as of November 5, 2007. This dividend marks an 
 increase of 16% from the prior quarter's dividend of $0.25 per share. 
   
 	Aristides Pittas, Chairman and CEO of Euroseas commented: "We are 
 happy to pay a dividend of $0.29 per share which is $0.05 per share 
 or 21% above our target minimum dividend of $0.24. This dividend 
 continues our policy of paying significant dividends out of earnings 
 and reflects the further strengthening of the dry markets, the prime 
 driver of our growth. Our focus remains to continue investing on 
 accretive acquisitions to further enhance our returns." 
   
 	About Euroseas Ltd. 
   
 	Euroseas Ltd. was formed on May 5, 2005 under the laws of the 
 Republic of the Marshall Islands to consolidate the ship owning 
 interests of the Pittas family of Athens, Greece, which has been in 
 the shipping business over the past 135 years. Euroseas trades on the 
 NASDAQ Global Market under the ticker ESEA since January 31, 2007. 
   
 	Euroseas operates in the dry cargo, drybulk and container shipping 
 markets. Euroseas' operations are managed by Eurobulk Ltd., an ISO 
 9001:2000 certified affiliated ship management company, which is 
 responsible for the day-to-day commercial and technical management 
 and operations of the vessels. Euroseas employs its vessels on spot 
 and period charters and through pool arrangements. 
   
 	After the delivery to its fleet of the recently acquired panamax 
 drybulk carrier, M/V Trust Jakarta (to be renamed M/V Ioanna P), the 
 Company will have a fleet of 15 vessels, including 3 Panamax drybulk 
 carriers, 2 Handysize drybulk carriers, 2 Intermediate container 
 ship, 5 Handysize container ships, 2 Feeder container ships and a 
 multipurpose dry cargo vessel. Euroseas' 5 drybulk carriers have a 
 total cargo capacity of 277,316 dwt, its 9 container ships will have 
 a cargo capacity of 15,321 teu and its 1 multipurpose vessel has a 
 cargo capacity of 22,568 dwt or 950 teu. 
   
 	Forward-Looking Statement 
   
 	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; including expected vessel acquisitions and 
 entering into further time charters. 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 the expectations reflected in such forward-looking statements 
 are reasonable, no assurance can be given 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 that 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 
 changes in the demand for dry bulk vessels and container ships, 
 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 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. 
 Contact: 
 Visit our website www.euroseas.gr 
 Company Contact 
 Tasos Aslidis 
 Chief Financial Officer 
 Euroseas Ltd. 
 11 Canterbury Lane, 
 Watchung, NJ 07069 
 Tel. [phone] 
 E-mail: [e-mail] 
 Investor Relations / Financial Media 
 Nicolas Bornozis 
 President 
 Capital Link, Inc. 
 230 Park Avenue, Suite 1536 
 New York, NY 10169 
 Tel. [phone] 
 E-mail: [e-mail] 
   
 	SOURCE: Euroseas 
 http://www.euroseas.gr 
 mailto:[e-mail] 
 mailto:[e-mail]