Navios Maritime Acquisition Corporation Announces Exchange Offer for Its $400.0 Million 8 5/8% First Priority Ship Mortgage Notes Due 2017

PIRAEUS, GREECE - (Marketwire - 02/02/11) - Navios Maritime Acquisition Corporation ("Navios Acquisition" or the "Company") (NYSE:NNA - News) announced today that the Company and Navios Acquisition Finance (US) Inc., its wholly owned finance subsidiary, commenced its offer to exchange up to U.S. $400.0 million of its outstanding 8 5/8% first priority ship mortgage notes due 2017 (the "Outstanding Notes") for a like principal amount of its 8 5/8% first priority ship mortgage exchange notes due 2017 (the "Exchange Notes" and, together with the Outstanding Notes, the "Notes") which have been registered under the Securities Act of 1933, as amended. The exchange offer will expire at 5:00 p.m., New York City time, on March 2, 2011, unless extended by the Company.

The terms of the Exchange Notes to be issued in the exchange offer are substantially identical to those of the Outstanding Notes, except that the Exchange Notes will not have securities law transfer restrictions and are not entitled to certain registration rights relating to the Outstanding Notes and the Exchange Notes will not provide for the payment of additional interest under circumstances relating to the timing of the exchange offer.

Wells Fargo Bank, National Association ("Wells Fargo"), the trustee under the indenture governing the Notes, is serving as the exchange agent in connection with the exchange offer. Persons with questions regarding the exchange offer should contact Wells Fargo at (800) 344-5128, Option 0. Requests for documents relating to the exchange offer should be directed to Wells Fargo.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities. The exchange offer is being made only pursuant to a prospectus and the related letter of transmittal and only to such persons and in such jurisdictions as is permitted under applicable law.

About Navios Maritime Acquisition Corporation
Navios Acquisition (NYSE:NNA - News) is an owner and operator of tanker vessels focusing in the transportation of petroleum products (clean and dirty) and bulk liquid chemicals. For more information about Navios Acquisition, please visit our website: www.navios-acquisition.com.

Source: Navios Maritime Acquisition Corporation