Navios Maritime Holdings Inc. Announces Closing of Offering
of $350 Million 8 1/8% Senior Notes Due 2019

PIRAEUS, GREECE, Jan 28, 2011 (MARKETWIRE 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") completed the sale of $350 million of 8 1/8% Senior Notes due 2019 (the "Notes"). The Notes were 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 guaranteed by all of the subsidiaries that provide a guarantee of Navios Holdings' existing 8 7/8% 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 and pay related transaction fees and expenses and for general corporate purposes.

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 was 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.

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 Maritime Holdings Inc.