Euroseas Ltd. announced that it has entered into agreements to acquire four 4,253 teu containerships built in South Korea, three in 2009 and one in 2008. The vessels are being acquired from companies controlled by Synergy Holdings Limited for a total consideration of approximately $40 million. . As part of the transaction, the Company has agreed to acquire certain management services of Synergy Marine Limited for the next three years. Mr. Andreas Papathomas, Chairman of Synergy Holdings Limited, has joined the Board of Directors of the Company.