NewLead Holdings Ltd. Announces Further Progress in the Restructuring Process with the Redelivery of Four Dry Bulk Vessels

PIRAEUS, Greece, April 5, 2012

NewLead Holdings Ltd. (NASDAQ: NEWL) ("NewLead" or the "Company") today announced that the Company has recently completed the redelivery of four dry bulk vessels, the "Australia", the "Brazil", the "China" and the "Grand Rodosi", to their owners, which are affiliates of Lemissoler Maritime Company W.L.L. ("Lemissoler").

As previously announced, NewLead had signed an agreement with Lemissoler for the sale and leaseback of the four aforementioned vessels in November 2010.

NewLead has reached a non-binding preliminary agreement with Lemissoler, which remains subject to the completion of legally binding documentation to finalize the outstanding issues with regards to the termination of the sale and leaseback transaction by the owners, including the settlement of the trade payables and other liabilities in relation to these four vessels. There can be no assurance, however, that a successful resolution can be reached with Lemissoler and the vessel owning companies.

Michael Zolotas, President and Chief Executive Officer of NewLead, stated, "We would like to thank Lemissoler for their excellent cooperation in the context of the sale and leaseback agreement and the restructuring process. We are looking forward to enhancing our established business relationship for the mutual benefit of both companies."

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 8 vessels, of which two are double-hull product tankers and 6 are dry bulk vessels including one vessel currently under construction that is scheduled to be delivered in the third quarter of 2012. 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