Navios Maritime Holdings Inc. Announces Proposed Private
Offering of $325 Million Senior Notes Due 2019

PIRAEUS, Greece, Jan. 13, 2011 /PRNewswire via COMTEX/

Navios Maritime Holdings Inc. ("Navios Holdings") (NYSE: NM) announced today that it and Navios Maritime Finance II (US) Inc., its wholly-owned finance subsidiary ("NMF" and, together with Navios Holdings, "Navios") intend to offer through a private placement, subject to market and other conditions, approximately $325 million of Senior Notes due 2019 (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 to be issued by Navios are expected to be guaranteed by all of the subsidiaries that provide a guarantee of Navios' existing 8 5/8% first priority ship mortgage notes due 2017.

Navios Holdings intends to use the net proceeds from the offering of the Notes to purchase and/or redeem any and all of Navios Holdings' outstanding 9 1/2% Senior Notes due 2014 (the "2014 Notes") and pay related transaction fees and expenses. The consummation of the offering of the Notes will be conditioned upon customary closing conditions.

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 does not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities, and shall not constitute an offer, solicitation or sale of any Notes or other securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offer of the Notes 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.

Navios Maritime Holdings Inc.