|   | 1. | The      name of the Corporation is: TOP SHIPSINC. |
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|   | 2. | The      Articles of Incorporation were filed with the Registrar of Corporations on      the 10th day of January, 2000 under the name of “OCEAN HOLDINGS INC.”,      Articles of Amendment were filed with the Registrar of Corporations on the      30th day of April, 2004 changing the name of the Corporation to “TRANS      OCEAN PETROLEUM TANKERS INC.”, Articles of Amendment were filed with the      Registrar of Corporations on the 10th day of May, 2004 changing the name      of the Corporation to “TOP TANKERS INC.”, Articles of Amendment were filed      with the Registrar of Corporations on the 27th day of May, 2004, Amended      and Restated Articles of Incorporation were filed with the Registrar of      Corporations on the 21st day of July, 2004, Articles of Amendment were      filed with the Registrar of Corporations on the 22nd day of July, 2005 and      Articles of Amendment were filed with the Registrar of Corporations on the      17th day of December, 2007 changing the name of the Corporation to “TOP      SHIPS INC.” |
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|   | 3. | Section      D of the Articles of Incorporation, as heretofore amended and restated, is      hereby amended by adding the following  paragraph: |
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|   | 4. | The      amendment to the Articles of Incorporation, as heretofore amended and      restated, was authorized by vote of the holders of a majority of all      outstanding shares entitled to vote thereon at the meeting of shareholders      of the Corporation held on March 13,2008. |
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|   | /s/      Anthony Tu-Sekine                           |
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|   | Name:   Anthony      Tu-Sekine        |
|   | Title:     Attorney-in-Fact |