Navios Maritime Holdings Inc. Announces Agreement to Sell the Navios Pollux for $110.0 Million to Navios Maritime Partners L.P.

PIRAEUS, Greece, May 20, 2010 /PRNewswire via COMTEX/ --Navios Maritime Holdings Inc. ("Navios Holdings") (NYSE: NM), a global, vertically integrated seaborne shipping and logistics company, announced today that it has agreed to sell the Navios Pollux, a 2009 South Korean-built Capesize vessel with a capacity of 180,727 dwt to Navios Maritime Partners L.P. ("Navios Partners") (NYSE: NMM) for $110.0 million in cash.

Navios Holdings intends to use the proceeds from the sale of this vessel for operating purposes, such as repayment of indebtedness or reinvestment in vessels.

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. For more information please visit our website: www.navios.com.

Navios Holdings may, from time to time, be required to offer certain owned Capesize and Panamax vessels to Navios Maritime Partners L.P. ("Navios Partners") (NYSE: NMM) for purchase at fair market value according to the terms of the Omnibus Agreement. For more information please visit its website: www.navios-mlp.com.

Navios Maritime Holdings Inc.