NewLead Holdings Ltd. Announces Two New Time Charters

One-year time charters with 50% profit sharing

PIRAEUS, Greece, Sept 07, 2010 /PRNewswire via COMTEX/

NewLead Holdings Ltd. (Nasdaq: NEWL) ("NewLead" or the "Company"), an international, vertically integrated shipping company, today announced that it has entered into new time charter contracts with a first-class European charterer for two product tankers, the Newlead Avra and the Newlead Fortune.

The 2004-built 73,495 dwt Panamax vessels have each been chartered-out for one year, commencing immediately upon completion of their respective current spot voyages. For the Newlead Avra, the net daily charter-out floor rate will be $13,825 plus 50% profit sharing based on the vessel's actual earnings. For the Newlead Fortune, the net daily charter-out floor rate will be $13,825 plus 50% profit sharing on earnings based on TC5 index earnings.

Mr. Michael Zolotas, president and chief executive officer of NewLead, stated, "We are pleased to announce that we have chartered-out two of our vessels securing floor rates while providing the opportunity to capture market upside with profit sharing. This agreement demonstrates our ever-increasing ability to secure competitive rates with high quality counterparties and also allows for earnings expansion as the market continues to improve."

About NewLead Holdings Ltd.
NewLead Holdings Ltd. is an international shipping company that owns and operates product tankers and dry bulk vessels. NewLead's common shares are traded under the symbol "NEWL" on the NASDAQ Global Select Market. To learn more about NewLead Holdings Ltd., please visit the new website at www.newleadholdings.com.

Source: NewLead Holdings Ltd.