Navios Maritime Holdings Announces Sponsorship of Navios Maritime Acquisition Corporation

PIRAEUS, Greece, June 17 - Navios Maritime Holdings Inc. ("Navios Holdings") (NYSE: NM), a large, global, vertically integrated seaborne shipping and logistics company, announced today that it is the sponsor and corporate shareholder of Navios Maritime Acquisition Corporation ("Navios Acquisition"), a newly organized special purpose acquisition company formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition, stock purchase or other similar business combination, one or more assets or operating businesses in the marine transportation and logistics industries.

Navios Acquisition filed today with the U.S. Securities and Exchange Commission a registration statement on Form F-1 for the initial public offering of 22,000,000 units. Each unit has an offering price of $10.00 and consists of one share of common stock and one warrant that entitles the holder to purchase one share of common stock under the terms and conditions described in the Registration Statement. The net proceeds of the offering will be held in trust pending the completion of an acquisition.

J.P. Morgan Securities Inc. and Deutsche Bank Securities Inc. are acting as joint bookrunning managers and S. Goldman Advisors LLC is acting as the co-manager for the initial public offering. Navios Holdings has agreed to invest a total of $7,600,000 in a private placement of warrants to occur simultaneously with the closing of the initial public offering. Following the public offering, Navios Holdings expects to own approximately 19% of the common shares of Navios Acquisition.

A Registration Statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

A copy of the preliminary prospectus relating to these securities may be obtained from J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, Attention: Prospectus Department; telephone: (718) 242-8002, or e-mail at addressing.services@jpmorgan.com or from Deutsche Bank Securities Inc., Attention: Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311, telephone: (800) 503-4611 or e-mail at prospectusrequest@list.db.com.

For full details please refer to the Registration Statement filed by Navios Acquisition which can be found at www.sec.gov.

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.