NewLead Holdings Ltd. Announces Five-Year New
Time Charters for Two Product Tankers

PIRAEUS, Greece, Feb. 16, 2011 /PRNewswire via COMTEX/

NewLead Holdings Ltd. (Nasdaq: NEWL) ("NewLead"), an international, vertically integrated shipping company, today announced that it has entered into two new long-term time charter contracts with a first-class charterer for two product tankers, the Newlead Compass and the Newlead Compassion, each built in 2006.

The Newlead Compass (72,934 dwt) and the Newlead Compassion (72,782 dwt) have each been chartered-out for a five-year period. The vessels are expected to commence their charters during the second quarter of 2011. The net daily charter-out rate for each vessel will be $11,700 for the first year, $13,650 for the second, third and fourth year and $15,600 for the fifth year. In addition, during the term of the charters, Newlead will have a profit-sharing interest equal to 50% of the actual earnings up to $26,000 per day and 30% above such amount.

Mr. Michael Zolotas, president and chief executive officer of NewLead, stated, "We believe the combination of long-term coverage with a quality counterparty, escalating rates and profit sharing provides an overall excellent transaction for Newlead. We have established an attractive and increasing base rate that secures our downside and can participate in our upside through the profit sharing mechanism throughout the term of the charter"

COVERAGE
As a result of this transaction, Newlead expects to have 73% of its operating days covered for 2011, 56% for 2012 and 46% for 2013.

About NewLead Holdings Ltd.
NewLead Holdings Ltd. is an international, vertically integrated shipping company that owns and manages product tankers and dry bulk vessels. NewLead currently controls 22 vessels, including six double-hull product tankers and 16 dry bulk vessels of which four are newbuildings. 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. press release