The 2013-built eco-type handysize bulk carrier 'Newlead Castellano'

NewLead Holdings Ltd. Announces Time Charter Contract of the M/V Newlead Castellano

Piraeus, Greece - Oct. 23, 2014

NewLead Holdings Ltd. (OTC: NEWL) ("NewLead" or the "Company") announced today that it has entered into a time charter contract for the recently delivered Handysize vessel, the "Newlead Castellano".

The Newlead Castellano has been chartered-out at a gross rate of $9,500 per day, minus a 6.25% commission payable to third parties, for a minimum of three and a maximum of five months. This employment is anticipated to generate approximately $855,000 of gross revenue for the minimum scheduled period of the time charter.

The Newlead Castellano is a 2013-built dry-bulk eco-type Handysize vessel of 35,542 dwt and is the third modern eco-type Handysize vessel to be delivered to NewLead's owned fleet in 2014.

As previously announced on September 22, 2014, when NewLead took delivery of the Newlead Castellano, the vessel is expected to generate approximately $1.7 million EBITDA per year assuming $1.73 million yearly operating expenses.

Mr. Michael Zolotas, Chairman and Chief Executive Officer of NewLead, stated, "We continue to capitalize on opportunities that arise in the dry bulk sector to increase the cash flow and future revenues of the Company. The Newlead Castellano has been fixed at a premium to current market charter rates."

Fleet Update
The following table details NewLead's fleet as of October 23, 2014:

1. These vessels are under management by Newlead Shipping SA

About NewLead Holdings Ltd.
NewLead Holdings Ltd. is an international, vertically integrated shipping, logistics and commodity company. NewLead owns five dry-bulk vessels, two Panamax and three Handysize vessels, and manages three third party tanker vessels, two small bitumen tanker vessels and one Handysize MR product tanker. Furthermore, the Company owns a wash plant and a mine in Kentucky, USA and has been granted access to develop and mine another mine that includes a CSX rail load facility, the Andy Rail Terminal, in Kentucky, USA. NewLead's common shares are traded under the symbol "NEWL" on the Over-the-Counter market. To learn more about NewLead Holdings Ltd., please visit the new website at www.newleadholdings.com.

NewLead Holdings Ltd. press release