NewLead Holdings Ltd. Announces Resignation of Chief Financial Officer

PIRAEUS, Greece, July 11, 2011 /PRNewswire via COMTEX/

NewLead Holdings Ltd. (Nasdaq: NEWL) ("NewLead" or "the Company"), an international shipping company owning and operating tankers and dry bulk vessels, today announced that Allan Shaw has resigned as chief financial officer and director of the Company. Michael Zolotas, president and chief executive officer of NewLead Holding Ltd., will assume the role and responsibilities of chief financial officer of the Company until a new chief financial officer is hired. Allan Shaw will consult with the company for a period of three months to facilitate a smooth transition process.

Michael Zolotas, president and chief executive officer of NewLead, stated, "I thank Allan for his valuable contribution to the Company and wish him success in his future endeavors."

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 three 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