ATHENS, GREECE--(MARKET WIRE)--Oct 27, 2008 -- Danaos Corporation (DAC - News) announced that it has declared a dividend of $0.465 per common share for the third quarter of 2008. The dividend is payable on November 19, 2008 to all shareholders of record as of November 5, 2008.

Danaos Corporation will release their third quarter results on Friday, October 31, 2008 after the market closes and has scheduled the conference call on Monday, November 3, 2008 at 9:00 AM EST.

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 155,123 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 32 additional containerships aggregating 234,962 TEU with scheduled deliveries up to 2011. The company's shares trade on the New York Stock Exchange under the symbol "DAC."

Visit our website at www.danaos.com

     For further information please contact:
      
     Dimitri Andritsoyiannis
     Vice President and Chief Financial Officer
     Danaos Corporation
     Athens, Greece
     Tel: +30 210 419 6481
     E-Mail: cfo@danaos.com
      
     Iraklis Prokopakis
     Vice President and Chief Operating Officer
     Danaos Corporation
     Athens, Greece
     Tel. +30 210 419 6400
     E-Mail: coo@danaos.com
      
     Investor Relations and Financial Media:
     Nicolas Bornozis
     President
     Capital Link, Inc.
     New York
     Tel. 212-661-7566
     E-Mail: danaos@capitallink.com