NewLead Holdings Ltd. Announces Coal Supply and Delivery Contract Expected to Generate $148.0 million of Revenue and Extension

NewLead Holdings Ltd. Announces Coal Supply and Delivery Contract Expected to
Generate $148.0 million of Revenue and Extension of Previously Announced Mine
                            Acquisition Agreements

PR Newswire

PIRAEUS, Greece, Feb. 26, 2013

PIRAEUS, Greece, Feb. 26, 2013 /PRNewswire/ -- NewLead Holdings Ltd. (NASDAQ:
NEWL) ("NewLead") today announced that the Company has signed an agreement to
supply and deliver 1.48 million metric tons of steam coal to a third party
buyer. The contract is expected to generate approximately $148.0 millionin
revenue over the period of the contract. NewLead also announced that the
Company has entered into an agreement to extend previously announced mine
acquisition agreements.

Coal Supply and Delivery Contract

The contract provides for the sale of 130,000 metric tons of coal, commencing
in March 2013, followed by 150,000 metric tons per month beginning in April
2013 until the end of 2013. All tonnage is subject to a variation of 10%. The
price was established based on the prevailing market price for steam coal at
the time the contract was entered into. Loading of the steam coal is expected
to commence by the end of March 2013. Delivery of the coal will be completed
by NewLead's fleet, whether by existing vessels or newly chartered-in from the

Michael Zolotas, Chairman, President and Chief Executive Officer of NewLead,
stated, "We are integrating our commodity and transport operations. We secured
a contract not only to profitably supply steam coal, but to also profitably
transport this coal to our buyer, a creditworthy counterparty. Our vertically
integrated operation provides various profitable sectors and, we believe, an
advantage over other competitors."

Extension of Mine Acquisition Agreements

The Company also announced that it entered into an agreement to extend the
date until March 5, 2013, by which the Company must acquire title and mineral
excavation rights to 5,000 acres of land in Kentucky and ownership and
leasehold interests in 18,335 acres in Tennessee. The extension was required
to accommodate the needs of the sources of financing for these mines. However,
there is no assurance that the acquisitions will be consummated by March 5,
2013 or at all.

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

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

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 fulfil contracts, the consummation of conditional
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

Investor and Media Relations:
Elisa Gerouki
NewLead Holdings
Telephone: + 30 213 014 8023

SOURCE NewLead Holdings Ltd.

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