Analyst Coverage

Analysts following Paragon Shipping Inc.:

MLV & Co. Natasha Boyden
Maxim Group Ronald J. Barone
Jefferies Doug Mavrinac
Wunderlich Securities Nicholas Bender

Paragon Shipping Inc. is followed by the analysts and institutions listed above. Please note that any opinions, estimates or forecasts regarding Paragon's performance made by the analysts are theirs alone and do not represent opinions, forecasts or predictions of Paragon Shipping or its management. Paragon Shipping is providing this information as a service to investors and does not by its reference above imply its endorsement of or concurrence with such information, conclusions or recommendations.

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