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NewLead Holdings Ltd. Announces Appointment of Michael Zolotas as Chairman



  NewLead Holdings Ltd. Announces Appointment of Michael Zolotas as Chairman

PR Newswire

PIRAEUS, Greece, Jan. 18, 2013

PIRAEUS, Greece, Jan. 18, 2013 /PRNewswire/ -- NewLead Holdings Ltd. (NASDAQ:
NEWL) ("NewLead" or "the Company"), today announced that Michael Zolotas,
president and chief executive officer of NewLead, will assume the role and
responsibilities of chairman of the Company following the recent resignation
of Nicholas Fistes as chairman and director of the Company.

Michael Zolotas, chairman, president and chief executive officer of NewLead,
stated, "I would like to thank Nicholas Fistes for his valuable contribution
to the Company and wish him success in his future endeavors."

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.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995

This press release includes assumptions, expectations, projections, intentions
and beliefs about future events. These statements, as well as words such as
"anticipate," "estimate," "project," "plan," and "expect," are intended to be
''forward-looking" statements. We caution that assumptions, expectations,
projections, intentions and beliefs about future events may vary from actual
results and the differences can be material. Forward-looking statements
include, but are not limited to, such matters as the creditworthiness of our
counterparties, the reliability of the reserve reports, our ability to extract
or acquire coal to fulfill contracts, future operating or financial results;
our liquidity position and cash flows, our ability to borrow additional
amounts under our revolving credit facility and, if needed, to obtain waivers
from our lenders and restructure our debt, and our ability to continue as a
going concern; statements about planned, pending or recent vessel disposals
and/or acquisitions, business strategy, future dividend payments and expected
capital spending or operating expenses, including dry-docking and insurance
costs; statements about trends in the product tanker and dry bulk vessel
shipping segments, including charter rates and factors affecting supply and
demand; expectations regarding the availability of vessel acquisitions;
completion of repairs; length of off-hire; availability of charters; and
anticipated developments with respect to any pending litigation. The
forward-looking statements in this press release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, management's examination of historical operating
trends, data contained in our records and other data available from third
parties. Although NewLead believes that these assumptions were reasonable when
made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict
and are beyond our control, NewLead cannot assure you that it will achieve or
accomplish these expectations, beliefs or projections described in the forward
looking statements. Important factors that, in our view, could cause actual
results to differ materially from those discussed in the forward-looking
statements include the strength of world economies and currencies, general
market conditions, including changes in charter rates and vessel values,
failure of a seller to deliver one or more vessels, and other factors
discussed in NewLead's filings with the U.S. Securities and Exchange
Commission from time to time. NewLead expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in NewLead's
expectations with respect thereto or any change in events, conditions or
circumstances on which any statement is based.

Investor and Media Relations:
Elisa Gerouki
NewLead Holdings
Ltd.                                                             
Telephone: + 30 213 014 8023
Email: egerouki@newleadholdings.com

 

SOURCE NewLead Holdings Ltd.

Website: http://www.newleadholdings.com
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