TOP Ships Inc. Announces Third Quarter and Nine Months 2009 Results Release Date, Conference Call and Webcast

ATHENS, GREECE, Nov 02 (MARKET WIRE) --
TOP Ships Inc. (NASDAQ: TOPS), an international provider of worldwide
seaborne crude oil, petroleum products, and drybulk transportation
services, announced today that it will release its results for the third
quarter and nine months ended September 30, 2009 after the market closes
in New York on Monday, November 9, 2009.

TOP Ships' management team will host a conference call on Tuesday,
November 10, 2009, at 11:00 a.m. EST to discuss the Company's financial
results.

Conference Call details:

Participants should dial into the call 10 minutes before the scheduled
time using the following numbers: 1(866) 819-7111 (from the US), 0(800)
953-0329 (from the UK), or (+44) (0) 1452 542 301 (from outside the US).
Please quote "TOP Ships."

A replay of the conference call will be available until November 18, 2009.
The United States replay number is 1(866) 247-4222; from the UK 0(800)
953-1533; the standard international replay number is (+44) (0) 1452 550
000 and the access code required for the replay is: 39394642#.

Slides and Audio webcast:

There will also be a simultaneous live webcast over the Internet, through
the TOP Ships Inc. website (www.topships.org) under "Investor Relations."
Participants to the live webcast should register on the website
approximately 10 minutes prior to the start of the webcast.

About TOP Ships Inc.

TOP Ships Inc., formerly known as TOP Tankers Inc., is an international
provider of worldwide seaborne crude oil and petroleum products and
drybulk transportation services. The Company operates a combined tanker
and drybulk fleet as follows:

-- A fleet of eight double-hull Handymax tankers and an average age of
2.6 years with a total carrying capacity of approximately 0.4 million dwt,
of which 76% are sister ships. Two of the Company's Handymaxes are on time
charter contracts with an average term of 9 months with both of the time
charters including profit sharing agreements above their base rates. Six of
the Company's Handymax tankers are fixed on a bareboat charter basis with
an average term of 8.4 years.
-- A fleet of five drybulk vessels with a total carrying capacity of
approximately 0.3 million dwt and an average age of 8.5 years, of which 47%
are sister ships. All of the Company's drybulk vessels have fixed rate
employment contracts for an average period of 23 months.

Forward-Looking Statements

Certain statements and information included in this release constitute
"forward-looking statements" within the meaning of the Federal Private
Securities Litigation Reform Act of 1995. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to provide
prospective information about their business. Forward-looking statements
reflect our current views with respect to future events and financial
performance and may include statements concerning plans, objectives,
goals, strategies, future events or performance, and underlying
assumptions and other statements, which are other than statements of
historical facts.

The Company desires to take advantage of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and is including this
cautionary statement in connection with this safe harbor legislation. The
words "believe," "anticipate," "intends," "estimate," "forecast,"
"project," "plan," "potential," "may," "should," "expect," "pending" and
similar expressions identify forward-looking statements.

Important factors that, in our view, could affect the matters discussed in
these forward-looking statements include, general market conditions,
including fluctuations in charter rates and vessel values, changes in the
demand for our vessels, offers that may be received from third parties,
potential liability from pending or future litigation, general domestic
and international political conditions, and other factors. Please see our
filings with the Securities and Exchange Commission for a more complete
discussion of these and other risks and uncertainties.

Contacts:

Investor Relations / Media:
Ramnique Grewal
Vice President
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, N.Y. 10169
Tel.: (212) 661-7566
Fax: (212) 661-7526
E-Mail: topships@capitallink.com

Company:
Alexandros Tsirikos
Chief Financial Officer
TOP Ships Inc.
1, Vassilissis Sofias Str. & Meg.
Alexandrou Str.
151 24, Maroussi, Greece
Tel: +30 210 812 8180
Email: atsirikos@topships.org

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