Danaos Corporation announces a share repurchase program

Athens, Greece, November 25, 2008 – Danaos Corporation (NYSE: DAC) announces that its Board of Directors has approved a share repurchase program and authorized the officers of the Company to repurchase, from time to time, up to 1,000,000 shares of the Company's common stock (par value $0.01).

About Danaos Corporation
Danaos Corporation is an international owner of containerships, chartering its vessels to many of the world's largest liner companies. Our current fleet of 39 containerships aggregating 156,275 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Danaos is the largest US listed containership company based on fleet size. Furthermore, the company has a contracted fleet of 31 additional containerships aggregating 230,709 TEU with scheduled deliveries up to 2011. The company's shares trade on the New York Stock Exchange under the symbol "DAC".

Danaos Corporation