Diana Shipping Inc.

Simeon P. Palios has served as our Chief Executive Officer and Chairman since February 21, 2005 and as a Director since March 9, 1999. Prior to November 12, 2004, Mr. Palios was the Managing Director of Diana Shipping Agencies S.A. and performed on our behalf the services he now performs as Chief Executive Officer. Since 1972, when he formed Diana Shipping Agencies S.A., Mr. Palios has had the overall responsibility of our activities. Mr. Palios has 40 years of experience in the shipping industry and expertise in technical and operational issues. He has served as an ensign in the Greek Navy for the inspection of passenger boats on behalf of the Ministry of Merchant Marine and is qualified as a naval architect and engineer. Mr. Palios is a member of various leading classification societies worldwide and he is a member of the Board of Directors of the United Kingdom Freight Demurrage and Defence Association Limited. He holds a Bachelor's degree in Marine Engineering from Durham University.

Anastassis C. Margaronis has served as Diana Shipping Inc.'s President and as a Director since February 21, 2005. Prior to February 21, 2005, Mr. Margaronis was employed by Diana Shipping Agencies S.A. performing executive duties. He joined Diana Shipping Agencies S.A. in 1979 and has been responsible for overseeing its insurance matters, including hull and machinery, protection and indemnity and war risks cover. Mr. Margaronis has 27 years of experience in shipping, including ship finance and insurance. He is a member of the Board of Directors of the United Kingdom Mutual Steamship Assurance Association (Bermuda) Limited and a member of the Greek Committee of the American Bureau of Shipping Classification Society. He holds a Bachelor's degree in Economics from the University of Warwick and a Master's degree from the Wales Institute of Science and Technology.

Andreas Michalopoulos has served as our Chief Financial Officer and Treasurer since March 8, 2006. Mr. Michalopoulos also serves as an employee of Diana Shipping Services S.A. In 1993 Mr. Michalopoulos began his career with Merrill Lynch Private Banking in Paris. In 1995 he became an International Corporate Auditor with Nestle S.A. in Vevey, Switzerland and in 1998 he became Trade Marketing and Merchandising Manager. From 2000 to 2002 he worked for McKinsey and Company in Paris as an Associate Generalist Consultant. In 2002 he joined Lavipharm S.A., a major Greek pharmaceutical group, where he oversaw US Research and Development activity as Vice President of International Business Development, and was a member of the Executive Committee. In 2005 Mr. Michalopoulos joined Diana Shipping Agencies S.A. as a Project Manager. Mr. Michalopoulos graduated from Paris IX Dauphine University with Honors in 1993 with an MSc in Economics and a Master's degree in Management Sciences specializing in Finance. In 1995, he also obtained an MBA from Imperial College, University of London.

Maria Dede has served as our Chief Accounting Officer since September 1, 2005 during which time she has been responsible for all financial reporting requirements. Mrs. Dede has also served as an employee of Diana Shipping Services S.A. since March 2005. In 2000 Mrs. Dede joined the Athens branch of Arthur Andersen, which merged with Ernst and Young (Hellas) in 2002, where she served as an external auditor of shipping companies until 2005. From 1996 to 2000 Mrs. Dede was employed by Venus Enterprises S.A., a ship-management company, where she held a number of positions primarily in accounting and supplies. Mrs. Dede holds a Bachelor's degree in Maritime Studies from the University of Piraeus and a Master's degree in Business Administration from the Athens Laboratory of Business Administration.

Apostolos Kontoyannis has served as a Director and as the Chairman of our Compensation Committee and a member of our Audit Committee since March 2005. Since 1987, Mr. Kontoyannis has been the Chairman of Investments and Finance Ltd., a financial consultancy firm he founded which specializes in financial and structuring issues relating to the Greek maritime industry, with offices in Piraeus and London. He was employed by Chase Manhattan Bank N.A. in Frankfurt (Corporate Bank), London (Head of Shipping Finance South Western European Region) and Piraeus (Manager, Ship Finance Group) from 1975 to 1987. Mr. Kontoyannis holds a Bachelor's degree in Finance and Marketing and an M.B.A. in Finance from Boston University.

Boris Nachamkin has served as a Director and as a member of our Compensation Committee since March 2005. Mr. Nachamkin was with Bankers Trust Company, New York, for 37 years, from 1956 to 1993 and was posted to London in 1968. Upon retirement in 1993, he acted as Managing Director and Global Head of Shipping at Bankers Trust. Mr. Nachamkin was also the UK Representative of Deutsche Bank Shipping from 1996 to 1998 and Senior Executive and Head of Shipping, based in Paris, for Credit Agricole Indosuez between 1998 and 2000. Previously, he was a Director of Mercur Tankers, a company that was listed on the Oslo Stock Exchange, and Ugland International, a shipping company. He also serves as Managing Director of Seatrust Shipping Services Ltd., a private consulting firm.

Konstantinos Psaltis has served as a Director since March 2005. Since 1981. Mr. Psaltis has served as Managing Director of Ormos Compania Naviera S.A., a company that specializes in operating and managing multipurpose container vessels. Prior to joining Ormos Compania Naviera S.A., Mr. Psaltis simultaneously served as a technical manager in the textile manufacturing industry and as a shareholder of shipping companies managed by M.J. Lemos. From 1961 to 1964, he served as ensign in the Royal Hellenic Navy. Mr. Psaltis is a member of the Germanischer Lloyds Hellas Committee. He holds a degree in Mechanical Engineering from Technische Hochschule Reutlingen & Wuppertal and a Bachelor's degree in Business Administration from Tubingen University in Germany.

William (Bill) Lawes has served as a Director and the Chairman of our Audit Committee since March 2005. Mr. Lawes served as a Managing Director and a member of the Regional Senior Management Board of JPMorgan Chase (London) from 1987 until 2002. Prior to joining JPMorgan Chase, he was Global Head of Shipping Finance at Grindlays Bank. Mr. Lawes is currently a member of the International Maritime Industries' Forum. Mr. Lawes is qualified as a member of the Institute of Chartered Accountants of Scotland.