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FreeSeas Names Papadopoulos as CFO

Maritime Activity Reports, Inc.

May 22, 2007

FreeSeas Inc. a provider of seaborne transportation for dry bulk cargoes, said that Dimitris D. Papadopoulos has been appointed Chief Financial Officer. Prior to joining FreeSeas, Mr. Papadopoulos served as President of Waterfront Developments, S.A., which organized and prepared the business and development plan related to the international public tender for "the long term lease and right of development of the Athens 2004 -- Olympic Sailing Center," which involved an investment of more than $250m.

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