Navios Maritime Acquisition Corporation Announces Proposed Private Offering
of $105.0 Million of 8 5/8% First Priority Ship Mortgage Notes Due 2017

PIRAEUS, GREECE, May 12, 2011 (MARKETWIRE via COMTEX)

Navios Maritime Acquisition Corporation ("Navios Acquisition" or the "Company") (NYSE: NNA) announced today that the Company and Navios Acquisition Finance (US) Inc., its wholly owned finance subsidiary, intend to offer through a private placement, subject to market and other conditions, approximately $105.0 million of 8 5/8% first priority ship mortgage notes due 2017 (the "Notes"). The Notes will be offered and sold in the United States only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and in offshore transactions to non-United States persons in reliance on Regulation S under the Securities Act.

The Notes are identical to the $400.0 million of notes issued in October 2010 (the "Existing Notes") and will be secured by first priority ship mortgages on seven very large crude carrier ("VLCC") vessels (including a newbuilding VLCC expected to be delivered in June 2011) owned by certain subsidiary guarantors. On the issue date of the Notes, each of Navios Acquisition's direct and indirect subsidiaries will guarantee the Notes. The Notes and the Existing Notes will be treated as a single class for all purposes under the indenture including, without limitation, waivers, amendments, redemptions and other offers to purchase and the Notes will rank evenly with the Existing Notes. Since the Existing Notes have been registered under the Securities Act, the Notes and the Existing Notes will have different CUSIP numbers. Following the consummation of the exchange offer for the Notes, it is expected that the Notes and the Existing Notes will have the same CUSIP number.

The net proceeds of the offering are intended to be used to finance the acquisition of the VLCC scheduled for delivery in June 2011.

The Notes and related guarantees have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to or for the benefit of U.S. persons unless so registered except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable securities laws in other jurisdictions. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes and the related guarantees, nor shall there be any sale of the Notes and the related guarantees in any jurisdiction in which such offer, solicitation or sale is unlawful. Any offer of the Notes and related guarantees will be made only by means of a private offering memorandum. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

Source: Navios Maritime Acquisition Corporation