X0202 3 2007-11-30 0 0001386716 Star Bulk Carriers Corp. SBLK 0001050154 RAMIUS CAPITAL GROUP LLC 666 THIRD AVENUE 26TH FLOOR NEW YORK NY 10017 0 0 1 0 0001042589 COHEN PETER A C/O RAMIUS CAPITAL GROUP, L.L.C. 666 THIRD AVENUE, 26TH FLOOR NEW YORK NY 10017 0 0 1 1 See Explanation of Responses 0001267535 STARK MORGAN B C/O RAMIUS CAPITAL GROUP, L.L.C. 666THIRD AVENUE, 26TH FLOOR NEW YORK NY 10017 0 0 1 1 See Explanation of Responses 0001043935 STRAUSS THOMAS W C/O RAMIUS CAPITAL GROUP, L.L.C. 666 THIRD AVENUE, 26TH FLOOR NEW YORK NY 10017 0 0 1 1 See Explanation of Responses 0001275922 SOLOMON JEFFREY M C/O RAMIUS CAPITAL GROUP, L.L.C. 666 THIRD AVENUE, 26 FLOOR NEW YORK NY 10017 0 0 1 1 See Explanation of Responses 0001267474 C4S & CO LLC C/O RAMIUS CAPITAL GROUP, L.L.C. 666 THIRD AVENUE, 26TH FLOOR NEW YORK NY 10017 0 0 1 1 See Explanation of Responses Common Stock, $.01 par value 2885580 I See Footnotes Warrants (right to buy) 8.00 2007-11-30 2009-12-16 Common Stock, $.01 par value 2233400 I See Footnotes RCG Carpathia Master Fund, Ltd (Carpathia), RCG Crimson, LP (Crimson), RCG Baldwin, L.P. (Baldwin), and Ramius Secutities, L.L.C. (Ramius Securities) beneficially own 1,727,070, 40,000, 579,865 and 505,865 shares of Common Stock, respectively. As the general partner of Baldwin, Ramius Advisors, LLC (Ramius Advisors) may be deemed to beneficially own the 579,865 shares of Common Stock owned by Baldwin. As the investment advisor of Carpathia, the general partner of Crimson and the sole member of each of Ramius Securities and Ramius Advisors, Ramius Capital Group, L.L.C. (Ramius) may be deemed to beneficially own the 1,727,070, 40,000, 579,865 and 505,865 shares of Common Stock owned by Carpathia, Crimson, Baldwin, and Ramius Securities, respectively. (continuation of previous footnote) As the managing member of Ramius, C4S & Co., L.L.C. (C4S) may be deemed to beneficially own the 1,727,070, 40,000, 579,865 and 505,865 shares of Common Stock owned by Carpathia, Crimson, Baldwin, and Ramius Securities, respectively. As the managing members of C4S each of Peter A. Cohen, Morgan B. Stark, Jeffrey M. Solomon and Thomas W. Strauss may be deemed to beneficially own the 1,727,070, 40,000, 579,865 and 505,865 shares of Common Stock owned by Carpathia, Crimson, Baldwin, and Ramius Securities, respectively. (continuation of previous footnote) Mr. Cohen beneficially owns 32,780 shares of Common Stock, 12,500 shares of which are owned by him individually and 20,280 shares of which are held in managed accounts over which he has voting and/or dispositive power. Each Reporting Person disclaims beneficial ownership of the Common Stock except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of the Common Stock for purposes of Section 16 or for any other purpose. Crimson, Baldwin, and Ramius Securities beneficially own 110,000, 425,000 and 1,661,700 warrants convertible into Common Stock at a ratio of one warrant for one share of Common Stock (the Warrants), respectively. As the general partner of Baldwin, Ramius Ramius Advisors may be deemed to beneficially own the own the 425,000 Warrants owned by Baldwin. As the investment advisor of Carpathia, the general partner of Crimson and the sole member of each of Ramius Securities and Ramius Advisors, Ramius may be deemed to beneficially own the 110,000, 425,000 and 1,661,700 Warrants owned by Crimson, Baldwin, and Ramius Securities, respectively. (continuation of previous footnote) As the managing member of Ramius, C4S may be deemed to beneficially own the 110,000, 425,000 and 1,661,700 Warrants owned by Crimson, Baldwin, and Ramius Securities, respectively. As the managing members of C4S each of Messrs. Cohen, Stark, Solomon and Strauss may be deemed to beneficially own the 110,000, 425,000 and 1,661,700 Warrants owned by Crimson, Baldwin, and Ramius Securities, respectively. (continuation of previous footnote) Mr. Cohen beneficially owns 30,700 Warrants, 10,000 of which are owned by him individually and 20,700 of which are held in managed accounts over which he has voting and/or dispositive power. (continuation of previous footnote) Mr. Solomon beneficially owns 6,000 Warrants, 1,000 of which are owned by him individually and 5,000 of which are held in managed accounts over which he has voting and/or dispositive power. Each Reporting Person disclaims beneficial ownership of the Warrants except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of the Warrants for purposes of Section 16 or for any other purpose. By: Ramius Capital Group, L.L.C.; By /s/ Owen S. Littman, Authorized Signatory 2007-12-10 By: /s/ Owen S. Littman, as Attorney in Fact for Peter A. Cohen 2007-12-10 By: /s/ Owen S. Littman, as Attorney in Fact for Morgan B. Stark 2007-12-10 By: /s/ Owen S. Littman, as Attorney in Fact for Thomas W. Strauss 2007-12-10 By: /s/ Owen S. Littman, as Attorney in Fact for Jeffrey M. Solomon 2007-12-10 By: C4S & Co., L.L.C., By: /s/ Owen S. Littman, as Attorney in Fact for Jeffrey M. Solomon, as Managing Member 2007-12-10