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

NewLead Holdings Ltd.

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.. 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.