Navios Maritime Holdings Inc. Announces Buyback of $131.3 Million

Navios Maritime Holdings Inc.

announced today that it has agreed to purchase $131.3 million of certain series of the 2% Mandatorily Convertible Preferred Stock previously issued in connection with the acquisition of Capesize vessels. Navios Holdings will pay $49.2 million in cash for $131.3 million of Preferred Stock, reflecting a 62.5% discount to the face amount. No dividend payment will be made on such stock for the fourth quarter of 2010, and it is anticipated that the purchase will be completed in 2010.