NEW YORK, June 11, 2013 - The New York Stock Exchange ("NYSE") announced today that the staff of NYSE Regulation, Inc. ("NYSE Regulation") has determined to commence proceedings to delist the Common Stock (the "Common Stock") of Excel Maritime Carriers Ltd. (the "Company") - ticker symbol EXM - from the NYSE. Trading in the Company's Common Stock will be suspended immediately.

NYSE Regulation has determined that the Company is no longer suitable for listing. Pursuant to Listed Company Manual (the "LCM") Section 802.01D, this decision was reached in view of the Company's June 10, 2013 announcement that it and certain of its subsidiaries have commenced a solicitation of its senior secured lenders and other creditors in order to implement a restructuring through a court supervised prepackaged plan of reorganization and that it has decided to go private. NYSE Regulation noted the uncertainty as to the timing and outcome of the consent solicitation process, as well as the ultimate effect of this process on the value of the Company's Common Stock. Separately, the Company had also previously been notified of its non-compliance with the NYSE's continued listing criteria outlined in LCM 802.01C, specifically the minimum $1.00 on a 30 day average share price, and was working on its cure of this non-compliance. Furthermore, the Company was delayed with the Securities and Exchange Commission (the "SEC") in its filing of its December 31, 2012 Form 20-F as it pertains to section 802.01E of the LCM. NYSE Regulation notes that it may make an appraisal of, and determine on an individual basis, the suitability for continued listing of an issue in light of all pertinent facts and circumstances whenever it deems such action appropriate. In addition, NYSE Regulation may, at any time, suspend a security if it believes that continued dealings in or listing of the security on the NYSE are not advisable.

The Company has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. Application to the SEC to delist the Common Stock is pending the completion of applicable procedures, including any appeal by the Company of the NYSE Regulation staff's decision. Company contact:

Pavlos Kanellopoulos
Chief Financial Officer
Excel Maritime Carriers Ltd.
Direct: +30 210 6209520
E-mail: Pkan@Excelmaritime.Com

See Section 802.00 of the NYSE Listed Company Manual for continued listing criteria and procedure for delisting