Navios Maritime Holdings Inc. Announces Three New Time Charters

PIRAEUS, Greece, May 27 - 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.

Ms. Angeliki Frangou, Chairman and CEO of Navios Holdings, stated, "We are pleased to announce today that we have chartered-out three vessels for rates and periods substantially in excess of their prior charters. Our continued ability to charter vessels to first-class counterparties illustrates our reputation for reliability."

The details for each of the charters are as follows:

Navios Hyperion - Five-Year Charter

The Navios Hyperion, a 75,707 dwt Panamax vessel built in 2004, has been chartered-out for five years, commencing within the period of March 1st through June 15th, 2009. The net daily charter-out rate will be $37,050, which compares favorably to the vessel's expiring two year charter-out rate of $26,268 net per day.

Navios Mercator - Five-Year Charter

The Navios Mercator, a 53,553 dwt Ultra-Handymax vessel built in 2002, has been chartered-out for five years, commencing February 12, 2009. The net daily charter-out rate will be $31,350, which compares favorably to the vessel's expiring three year charter-out rate of $19,950 net per day.

Navios Orbiter - Five-Year Charter

The Navios Orbiter, a 76,602 dwt Panamax vessel built in 2004, has been chartered-out for five years, commencing within the period March 1st through June 15th, 2009. The net daily charter-out rate will be $37,147, which compares favorably to the vessel's expiring two year charter-out rate of $24,700 net per day.

Fleet Coverage

As a result of these new charters, Navios Holdings has extended the coverage of its core fleet (excluding the Kleimar fleet) to 98.6% for 2008, 66.7% for 2009, 37.9% for 2010 and 24.1% 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: http://www.navios.com.

Source: Navios Maritime Holdings Inc.