Navios Maritime Holdings Inc. Announces Sale of Navios Orbiter and Navios Luz

PIRAEUS, GREECE, May 18, 2011 (MARKETWIRE 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 Orbiter, a 2004-built Panamax vessel of 76,602 dwt, and the Navios Luz, a 2010-built Capesize vessel of 179,144 dwt, to Navios Maritime Partners L.P. ("Navios Partners") (NYSE: NMM) for a total consideration of $130.0 million, payable in the form of $120.0 million in cash and 507,916 common units in Navios Partners.

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

About Navios Maritime Holdings Inc.
Navios Maritime Holdings Inc. (NYSE: NM) 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 about Navios Holdings please visit our website: www.navios.com.

Navios Maritime Holdings Inc.