NewLead Holdings Ltd. Receives NASDAQ Notice of Non-Compliance

Piraeus, Greece, May 22, 2013

NewLead Holdings Ltd. (NASDAQ: NEWL) ("NewLead" or "the Company") today announced that on May 16, 2013 it received a letter from the NASDAQ Stock Market LLC ("NASDAQ") stating that the Company is not in compliance with NASDAQ Listing Rule 5250(c)(1) because, as disclosed in the Company's Current Report on Form 6-K dated May 15, 2013, the Company did not timely file its Annual Report on Form 20-F for the year ended December 31, 2012. The notification of non-compliance has no immediate effect on the listing or trading of the Company's common stock on the NASDAQ Global Select Market.

As a result of the violation of NASDAQ Listing Rule 5250(c)(1), the NASDAQ letter stated that the Company has until July 15, 2013 to submit a plan to regain compliance. The Company anticipates that it will be able to file the Form 20-F by July 15, 2013, but if it is unable to it would submit a plan to NASDAQ in advance of that date. If NASDAQ accepts the plan of compliance, it can grant an exception of up to 180 days after the applicable due date for the filing of the Form 20-F.

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