Navios Maritime Acquisition Corporation Announces Delivery of Two LR1 Product Tankers

The Colin Jacob and the Ariadne Jacob immediately begin three-year time charters

PIRAEUS, Greece, July 12, 2010 - Navios Maritime Acquisition Corporation (“Navios Acquisition”) (NYSE:NNA), an owner and operator of tanker vessels, announced today, the delivery of the Colin Jacob and the Ariadne Jacob. These LR1 product tanker vessels, built in 2007, immediately commenced three year time charters at a rate of $17,000 net per day plus profit sharing. It is anticipated that these charters will generate aggregate base annual EBITDA of approximately $6.9 million.

Angeliki Frangou, Chairman and CEO commented, "The delivery of these vessels marks the commencement of Navios Acquisition’s fleet operations. Since we entered the tanker sector, we have observed improving industry prospects validating our investment in this sector. We intend to grow the company into a world-leading operator of modern, high-quality tankers."

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

Source: Navios Maritime Acquisition Corporation