ATHENS, GREECE -- (Marketwire) -- 09/22/08 -- Excel Maritime Carriers Ltd (NYSE: EXM), today announced the results of the annual general meeting of its shareholders. At the meeting the following proposals were approved and adopted: 1) The election of nine (9) Directors of the Company, 2) The ratification of Ernst & Young as the Company's independent auditors for the fiscal year ending December 31, 2007 and the appointment of Ernst & Young as the Company's independent auditors for the fiscal year ending December 31, 2008, 3) An amendment to the Company's Articles of Incorporation as set forth in Proposal One as described in the Proxy Statement for the Annual General Meeting.

About Excel Maritime Carriers Ltd

Excel is an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, such as iron ore, coal and grains, as well as bauxite, fertilizers and steel products. After the acquisition of Quintana, Excel owns a fleet of 40 vessels and, together with 7 Panamax vessels under bareboat charters, operates 47 vessels (4 Capesize, 14 Kamsarmax, 21 Panamax, 2 Supramax and 6 Handymax vessels) with a total carrying capacity of approximately 3.7 million DWT. Excel Class A common shares have been listed since September 15, 2005 on the New York Stock Exchange (NYSE) under the symbol EXM and, prior to that date, were listed on the American Stock Exchange (AMEX) since 1998. For more information about the Company, please go to our corporate website www.excelmaritime.com.