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

PIRAEUS, Greece, Dec. 9, 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 fifth favorable arbitration award against TMT Bulk Corp. ("TMT") for $1,658,376.21 plus interest. The total amount awarded to date, under the fifth interim arbitration awards, is approximately $8,658,000 plus interest.

As of December 9, 2011, the total outstanding amount owed by TMT to NewLead was approximately $9,675,000 plus interest and costs.

Michael Zolotas, president and chief executive officer of NewLead, stated, "We are very pleased we have been successful in receiving one more favorable arbitration award against TMT. We continue to pursue all our rights and our success to date allows us to remain confident that we will prevail in our claims."

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