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

PIRAEUS, Greece, Nov. 23, 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 fourth favorable arbitration award against TMT Bulk Corp. ("TMT") for $1,757,015.04 plus interest. The total amount awarded to date, under the four interim arbitration awards, is approximately $7,000,000 plus interest.

As of November 18, 2011, the total outstanding amount owed by TMT to NewLead was approximately $9,700,000 plus interest and costs.

Michael Zolotas, president and chief executive officer of NewLead, stated, "As previously announced, we will continue to pursue all our rights and we remain confident that we will 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 including four newbuildings and one vessel currently under construction. 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