NewLead Holdings Ltd. Announces Third Favorable Arbitration Award
Against TMT Bulk Corp.

PIRAEUS, Greece, Nov. 15, 2011

NewLead Holdings Ltd. (NASDAQ: NEWL) ("NewLead" or the "Company"), an international shipping company owning and operating tankers and dry bulk vessels, today announced that it has recently received a third favorable arbitration award against TMT Bulk Corp. ("TMT") for $1,334,663.26 plus interest. The total amount awarded to date, under the three interim arbitration awards, is $5,267,488.34 plus interest.

As of November 12, 2011, the total outstanding amount owed by TMT to NewLead including the aforementioned awarded amount was approximately $9,300,000 exclusive interest and costs. Currently, a total amount of approximately $10,200,000 is held as security for the Company's claims against TMT.

Michael Zolotas, president and chief executive officer of NewLead, stated, "We continue to pursue all our rights to receive complete payment of the amounts owed by TMT."

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 20 vessels, including six double-hull product tankers and 14 dry bulk vessels of which one is new building. 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