NewLead Holdings Ltd. Announces Placement
of $25.0 Million Perpetual Preferred Equity

Piraeus, Greece, March 10, 2014

NewLead Holdings Ltd. (NASDAQ: NEWL) ("NewLead" or the "Company") announced today that on March 4, 2014, it completed the issuance of $25.0 million in Perpetual Series A Preferred Shares ("Preferred Shares") to an institutional investor under a share subscription agreement ("Agreement"). The preferred shares can be redeemed by the Company or converted by the purchaser in common shares.

The Company received partial consideration of $2.5 million in cash at the closing of the transaction. The $22.5 million balance is expected to be received, subject to certain conditions per the Agreement, in nine consecutive equal monthly installments commencing approximately ninety days after the closing date.

The Company intends to use this $25.0 million to grow its fleet. Partial proceeds from the preferred shares issuance, along with the 75% debt financing recently received, will be deployed towards the acquisition of two eco-type 31,800 dwt, Handysize bulk carriers built in 2012. The vessels have a total acquisition price of $37.0 million, as previously announced on February 13, 2014. Of the acquisition price, the $9.25 million not subject to the debt financing is expected to be paid in installments, $1.85 million to be paid this week and the balance upon delivery of the vessels in June and July this year.

Mr. Michael Zolotas, Chairman and Chief Executive Officer of NewLead stated, "We are delighted to close the $25.0 million new equity financing. We continue to transform our Company with a focus towards building scale."

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 owns three dry bulk vessels, which includes one newbuilding. NewLead owns a wash plant and two mines, in Kentucky, USA. 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.

NewLead Holdings Ltd. press release