NewLead Holdings Ltd. Announces Sales of Two Vessels

1/11/2010

- Sale generates approximately $13.0 million
- Sale proceeds to be used to repay debt
- Sale marks exit from container sector

ATHENS, Greece, January 11, 2010 – NewLead Holdings Ltd. (NASDAQ: NEWL) (the “Company”) today announced the sale the Saronikos Bridge and MSC Seine to a third party. The Saronikos Bridge was delivered to her new owners on January 7, 2010. The MSC Seine will be delivered to her new owners by the end of January 2010. Each of the vessels is a 2,917 TEU container vessel built in 1990, and their sale marks NewLead’s exit from the container market. The sale of these vessels will create gross proceeds of approximately $13.0 million. The Company plans to use these proceeds, less related expenses, to reduce debt.

“The disposition of these two vessels was one of our short-term goals, as it allowed us to exit the container sector and while adding flexibility to our balance sheet,” said Mr. Michael S. Zolotas, President and Chief Executive Officer. “We will continue to optimize our fleet as we pursue operational excellence and accretive growth.”

About NewLead Holdings Ltd.
NewLead Holdings Ltd. is an international shipping company that owns and operates product tanker and dry bulk vessels. The Company’s products tanker fleet consists of five MR tankers and four Panamax tankers, all of which are double-hulled. The Company also owns three dry bulk vessels secured on period charters.

NewLead Holdings Ltd.