Navios Maritime Holdings Inc. Announces Three New Time Charters

PIRAEUS, Greece, April 3, 2008 /PRNewswire-FirstCall/ -- Navios Maritime Holdings Inc. ("Navios Holdings" or "the Company") (NYSE: NM), a large, global, vertically integrated seaborne shipping and logistics company, announced today that it has secured new time charters for three vessels.

"First-class counterparties are increasingly relying on Navios Holdings to satisfy their long-term transport needs. We are pleased to announce today that we have chartered-out vessels significantly before they are available, demonstrating our reputation for stability and reliability," said Ms. Angeliki Frangou, Chairman and CEO of Navios Holdings.

The details for each of the charters are as follows:

Navios Sagitarius -- Ten-Year Charter

The Navios Sagitarius, a 75,756 dwt Panamax vessel built in 2006, has been chartered-out for ten years, commencing about January 25, 2009. The ten-year, net daily charter-out rate will be $26,125, which compares favorably to the vessel's expiring two year charter-out rate of $25,413 per day,

Navios Capesize TBN -- Ten-Year Charter

The Navios TBN, a 172,000 dwt Capesize vessel scheduled for delivery in November of 2009, has been chartered-out for ten-years. The charter will commence upon delivery of the vessel to Navios' fleet and the net daily charter-out rate will be $39,900. Navios Holdings may substitute an alternative capesize vessel for this charter.

Navios Horizon -- Three-Year Charter

The Navios Horizon, a 50,346 dwt Ultra Handymax vessel built in 2001, has been chartered-out for three years, commencing July 24, 2008. The net daily charter-out rate will be $36,100, which compares favorably to the vessel's current charter-out rate of $14,725 per day.

As a result of these new charters, Navios Holdings has extended the coverage of its core fleet (excluding vessels acquired through the Kleimar N.V. transaction) to 98.3% for 2008, 56.4% for 2009, 30.9% for 2010 and 18.8% for 2011.

About Navios Maritime Holdings Inc.

Navios Maritime Holdings Inc. is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain.

Navios Holdings may, from time to time, be required to offer certain owned Capesize and Panamax vessels to Navios Maritime Partners L.P. for purchase at fair market value according to the terms of the Omnibus Agreement.

For more information about Navios Holdings please visit our website: www.navios.com.

Source: Navios Maritime Holdings Inc.