NewLead Holdings Ltd. Announces Coal Supply and Delivery Contract Expected to Generate $148.0 million of Revenue and Extension of Previously Announced Mine Acquisition Agreements

Piraeus, Greece, Feb. 26, 2013

NewLead Holdings Ltd. (NASDAQ: NEWL) ("NewLead") today announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a third party buyer. The contract is expected to generate approximately $148.0 million in revenue over the period of the contract. NewLead also announced that the Company has entered into an agreement to extend previously announced mine acquisition agreements.

Coal Supply and Delivery Contract
The contract provides for the sale of 130,000 metric tons of coal, commencing in March 2013, followed by 150,000 metric tons per month beginning in April 2013 until the end of 2013. All tonnage is subject to a variation of 10%. The price was established based on the prevailing market price for steam coal at the time the contract was entered into. Loading of the steam coal is expected to commence by the end of March 2013. Delivery of the coal will be completed by NewLead's fleet, whether by existing vessels or newly chartered-in from the market.

Michael Zolotas, Chairman, President and Chief Executive Officer of NewLead, stated, "We are integrating our commodity and transport operations. We secured a contract not only to profitably supply steam coal, but to also profitably transport this coal to our buyer, a creditworthy counterparty. Our vertically integrated operation provides various profitable sectors and, we believe, an advantage over other competitors."

Extension of Mine Acquisition Agreements
The Company also announced that it entered into an agreement to extend the date until March 5, 2013, by which the Company must acquire title and mineral excavation rights to 5,000 acres of land in Kentucky and ownership and leasehold interests in 18,335 acres in Tennessee. The extension was required to accommodate the needs of the sources of financing for these mines. However, there is no assurance that the acquisitions will be consummated by March 5, 2013 or at all.

About NewLead Holdings Ltd.
NewLead Holdings Ltd. is an international, vertically integrated shipping and commodity company that manages product tankers and dry bulk vessels. NewLead currently controls four vessels, two tankers and two dry bulk vessels. 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