International Shipholding Corporation Announces Public Offering of Series A Cumulative Redeemable Perpetual Preferred Shares

  International Shipholding Corporation Announces Public Offering of Series A
  Cumulative Redeemable Perpetual Preferred Shares

Business Wire

MOBILE, Ala. -- February 11, 2013

International Shipholding Corporation (NYSE: ISH) today announced that it
plans to offer shares of its Series A Cumulative Redeemable Perpetual
Preferred Stock (the “Series A Preferred Shares”) in an underwritten
registered public offering.

ISH intends to use the net proceeds from the offering for general corporate
purposes, including working capital and potential deployments of currently
inactive vessels. Following the offering, ISH intends to file an application
to list the Series A Preferred Shares on the New York Stock Exchange.

Incapital LLC and DNB Markets, Inc. will act as joint book-running managers in
connection with the offering.

When available, copies of the prospectus supplement and accompanying base
prospectus related to the offering may be obtained by contacting Incapital
LLC, Attn: DCM Prospectus Department, 200 S. Wacker Drive, Suite 3700,
Chicago, Illinois 60606, Telephone (312) 379-3700, Email
prospectus_requests@incapital.com; or DNB Markets, Inc., 200 Park Avenue,
31^st Floor, New York, New York, 10166, Telephone: (212) 551-9856.

This press release does not constitute an offer to sell or a solicitation of
an offer to buy the securities described herein, nor shall there be any sale
of these securities in any state or other jurisdiction in which such an offer,
solicitation or sale would be unlawful. Any offers of the Series A Preferred
Shares described in this press release will be made exclusively by means of
the above-described prospectus supplement and accompanying base prospectus,
which relate to ISH’s effective shelf registration statement.

About International Shipholding Corporation

International Shipholding Corporation, through its subsidiaries, operates a
diversified fleet of U.S. and international flag vessels that provide
worldwide and domestic maritime transportation services to commercial and
governmental customers primarily under medium to long-term charters and
contracts.

For more information about the company, please visit www.intship.com.

Forward Looking Statements

Except for the historical and factual information contained herein, the
matters set forth in this release, including statements regarding the terms of
the offering, the anticipated use of the proceeds therefrom and other
statements identified by words such as “expects,” “will,” “intends,” and
similar expressions are forward-looking statements within the meaning of the
“safe harbor” provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are subject to a number of risks and
uncertainties that may cause actual events and results to differ materially
from those anticipated, estimated or projected if one or more of these risks
or uncertainties materialize, or if underlying assumptions prove incorrect.
Factors that could affect actual results include but are not limited to:
prevailing market conditions in the U.S. and overseas; the possibility that
investors will not be receptive to our offering on the terms described above
or at all; corporate developments that could preclude, impair or delay the
offering due to restrictions under the federal securities laws; changes in our
cash requirements or financial position; changes in general market, economic,
regulatory or industry conditions that impact our ability or willingness to
consummate the offering on the terms described above or at all; and other
risks referenced from time to time in our filings with the Securities and
Exchange Commission. ISH has not yet entered into a definitive agreement with
respect to the offering, and, due to the above-listed uncertainties, there can
be no assurances that the above-described offering will be consummated on the
terms described above or at all. You should be aware that new factors may
emerge from time to time and it is not possible for us to identify all such
factors, nor can we predict the impact of each such factor on our plans, or
the extent to which any one or more factors may cause actual results to differ
from those reflected in any of our forward-looking statements. Accordingly,
you are cautioned not to place undue reliance upon any of our forward-looking
statements, which speak only as of the date made. We undertake no obligation
to update or revise for any reason any forward-looking statements made by us
or on our behalf, whether as a result of new information, future events or
developments, changed circumstances or otherwise.

Contact:

The IGB Group
David Burke, 646-673-9701
dburke@igbir.com
or
Leon Berman, 212-477-8438
lberman@igbir.com
or
International Shipholding
Niels M. Johnsen, 212-943-4141
Chairman
or
Erik L. Johnsen, 251-243-9221
President