Paragon Shipping Inc. (OSL:PRGN) ATHENS, Greece, Sept. 10, 2008 (GLOBE NEWSWIRE) -- Paragon Shipping Inc. (Nasdaq:PRGN), a global shipping transportation company specializing in drybulk cargoes, announced today that Michael Bodouroglou, its Chairman and Chief Executive Officer, will be presenting at Jefferies 5th Annual Shipping, Logistics & Offshore Services Conference on Wednesday, September 17, 2008 at 9:00 A.M. Eastern Time.

A live audio webcast and accompanying slide presentation will be available on the Paragon Shipping website at www.paragonship.com. Please allow 15 minutes prior to the presentation to visit the site and download and install any necessary audio software. The webcast will be archived on this site for 90 days.

About Paragon Shipping Inc.

Paragon Shipping Inc. is an Athens, Greece-based international shipping company specializing in the transportation of drybulk cargoes. The Company's current fleet consists of twelve vessels with a total carrying capacity of 765,137 dwt. For further information, please visit the Company's website at www.paragonship.com.

CONTACT: Paragon Shipping Inc. Christopher Thomas, Chief Financial Officer +30 (210) 8914 600 15 Karamanli Ave. GR 166 73 Voula, Greece

FD Eric Boyriven Alexandra Tramont +1(212) 850-5600

Paragon Shipping Inc.

http://www.paragonship.com

ISIN: US69913R3093

Stock Identifier: NYS.PRGN

US: NASDAQ:PRGN

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