X0202 4 2008-02-11 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 2008-02-11 4 S 0 20000 11.1970 D 2850580 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, 5,000, 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, 5,000, 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, 5,000, 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, 5,000, 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 securities 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 these securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. The Reporting Persons may also be deemed to beneficially own an aggregate of 2,223,400 shares of Common Stock underlying warrants convertible into Common Stock at a ratio of one warrant for one share of Common Stock (the "Warrants"). 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 of the Securities Exchange Act of 1934, as amended, or for any other purpose. By: Ramius Capital Group, L.L.C.; By /s/ Owen S. Littman, Authorized Signatory 2008-02-13 By: /s/ Owen S. Littman, as Attorney in Fact for Peter A. Cohen 2008-02-13 By: /s/ Owen S. Littman, as Attorney in Fact for Morgan B. Stark 2008-02-13 By: /s/ Owen S. Littman, as Attorney in Fact for Thomas W. Strauss 2008-02-13 By: /s/ Owen S. Littman, as Attorney in Fact for Jeffrey M. Solomon 2008-02-13 By: C4S & Co., L.L.C., By: /s/ Owen S. Littman, as Attorney in Fact for Jeffrey M. Solomon, as Managing Member 2008-02-13