X0202 4 2006-03-23 0 0001325159 FreeSeas Inc. FREE 0001166432 SONKIN PAUL D 460 PARK AVENUE 12TH FLOOR NEW YORK NY 10022 0 0 1 1 see footnote #1 0001101758 HUMMINGBIRD VALUE FUND LP 460 PARK AVENUE, 12TH FL NEW YORK NY 10022 0 0 1 1 see footnote #1 0001243818 HUMMINGBIRD MICROCAP VALUE FUND LP 460 PARK AVENUE, 12TH FL NEW YORK NY 10022 0 0 1 1 see footnote #1 0001276582 HUMMINGBIRD CONCENTRATED FUND LP 460 PARK AVENUE, 12TH FL NEW YORK NY 10022 0 0 1 1 see footnote #1 0001164073 HUMMINGBIRD MANAGEMENT LLC 460 PARK AVENUE, 12TH FL NEW YORK NY 10022 0 0 1 1 see footnote #1 0001249876 HUMMINGBIRD CAPITAL LLC 460 PARK AVENUE, 12TH FL NEW YORK NY 10022 0 0 1 1 see footnote #1 Common stock 2006-03-23 4 P 0 5100 4.625 A 147100 D This Form 4 is filed jointly by Paul D. Sonkin, The Hummingbird Value Fund, L.P. ("HVF"), The Hummingbird Microcap Value Fund, L.P.("Microcap"),The Hummingbird Concentrated Fund, L.P. ("Concentrated"), Hummingbird Capital, LLC, and Hummingbird Management, LLC. Paul D. Sonkin is the Managing Member of (a) Hummingbird Capital, LLC, the general partner of HVF, Microcap, and Concentrated, and (b) Hummingbird Management, LLC, the investment manager to HVF, Microcap, and Concentrated. Accordingly, each of Paul D. Sonkin, Hummingbird Capital, LLC, and Hummingbird Management, LLC may be deemed to beneficially own the securities owned by HVF, Microcap, and Concentrated, reported herein. The Reporting Persons are members of a Section 13(d) group that owns more than 10% of the Issuer's outstanding Common Stock. Acquired by The Hummingbird Concentrated Fund, LP. Owned directly by The Hummingbird Concentrated Fund, L.P., and indirectly by Paul D. Sonkin, Hummingbird Capital, LLC, and Hummingbird Management, LLC, each of which disclaims beneficial ownership of the securities owned by The Hummingbird Concentrated Fund, L.P., except to the extent that each such party has an interest, if any, in The Hummingbird Concentrated Fund, L.P. In addition, HVF owns 335,693 shares and warrants directly, and Microcap owns 335,589 shares and warrants directly. These shares and warrants are owned indirectly by Paul D. Sonkin, Hummingbird Capital, LLC, and Hummingbird Management, LLC, each of which disclaims beneficial ownership of the securities owned by HVF and Microcap., except to the extent that each such party has an interest, if any, in HVF and Microcap. Paul D. Sonkin 2006-03-24 The Hummingbird Value Fund, LP 2006-03-24 The Hummingbird Microcap Value Fund, LP 2006-03-24 The Hummingbird Concentrated Fund, LP 2006-03-24 Hummingbird Management, LLC 2006-03-24 Hummingbird Capital, LLC 2006-03-24