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PARAGON SHIPPING INC. TO RING THE OPENING BELL AT THE NEW YORK STOCK EXCHANGE ON THURSDAY, JUNE 24, 2010

Posted on Thursday, June 24 2010

ATHENS, Greece, June 24, 2010 - Paragon Shipping Inc. (the "Company") (NYSE: PRGN), a global shipping transportation company specializing in drybulk cargoes, announced today that Company's Chief Executive Officer, Michael Bodouroglou, and members of its senior management team will ring the Opening Bell at the New York Stock Exchange today, Thursday, June 24, 2010, in celebration of the Company's recent transfer to the NYSE from Nasdaq.

A live webcast of the opening bell ceremony will be available for viewing on the NYSE's website at www.nyse.com   beginning at 9:29 AM EDT.

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