International Shipping Enterprises, Inc. to Hold Investor Conference Call Providing Business Update NEW YORK, May 27 /PRNewswire-FirstCall/ -- International Shipping Enterprises, Inc. ("ISE") (OTC:ISHPU.OBOTC:ISHP.OBOTC:ISHPW.OB) (BULLETIN BOARD: ISHPU.OB, ISHP.OB, ISHPW.OB) announced today that it would hold a conference call on Tuesday, May 31, 2005 at 8:30 am ET, at which time, Angeliki Frangou, Chairman, President and CEO of ISE, will provide highlights of the first quarter 2005 operating results from Navios Maritime Holdings Inc. ("Navios"), and will update the investment community on the status of the previously announced definitive stock purchase agreement between Navios and ISE, as well as on the pre-effective amendment no. 1 to Form S-4 filed with the SEC on May 27, 2005. The conference call details are as follows: Call Date/Time: Tuesday, May 31, 2005; 8:30 am (ET) Call Title: International Shipping Enterprises Conference Call US Dial In: 1-800-309-9171 International Dial In: 706-643-3639 Confirmation Call Number: 6636807 This call will be simultaneously Web cast at the following Web address: http://phx.corporate-ir.net/playerlink.zhtml?c=187110&s=wm&e=1076989 International Shipping Enterprises, Inc. ISE is a Delaware corporation formed to serve as a vehicle for the acquisition of an operating business or vessels in the dry bulk sector of the shipping industry. ISE's initial business combination must be with a target whose fair market value is at least equal to 80% of net assets at the time of such acquisition. Safe Harbor This news release may contain forward-looking statements. Such statements are valid only as of today, and we disclaim any obligation to update this information. These statements, which include, but are not limited to, the successful completion of a proposed transaction and the benefits expected to be derived therefrom, are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. Public & Investor Relations Contact: International Shipping Enterprises, Inc. Investor Relations 212-279-8820 DATASOURCE: International Shipping Enterprises, Inc. CONTACT: Investor Relations, +1-212-279-8820,

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