PIRAEUS, Greece, June 25 /PRNewswire-FirstCall/ -- Navios Maritime Holdings Inc. ("Navios Holdings") (NYSE:NM) announced today the pricing of the initial public offering of 22,000,000 units of Navios Maritime Acquisition Corporation ("Navios Acquisition") (NYSE:NNA.U) at a price of $10.00 per unit, for aggregate gross proceeds of $220,000,000. Navios Holdings has agreed to invest a total of $7,600,000 in a private placement of warrants to occur simultaneously with the closing of the initial public offering. Following the public offering, Navios Holdings expects to own approximately 19% of the common shares of Navios Acquisition. Each unit consists of one share of common stock and one warrant that entitles the holder to purchase one share of common stock under the terms and conditions described in the Registration Statement. The net proceeds of the offering will be held in trust pending the completion of an acquisition. J.P. Morgan Securities Inc. and Deutsche Bank Securities Inc. acted as joint bookrunning managers and S. Goldman Advisors LLC acted as the co-manager for the initial public offering. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on June 25, 2008. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A copy of the prospectus relating to these securities may be obtained from J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, Attention: Prospectus Department; telephone: (718) 242-8002, or e-mail at or from Deutsche Bank Securities Inc., Attention: Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311, telephone: (800) 503-4611 or e-mail at . For full details please refer to the Registration Statement filed by Navios Acquisition which can be found at http://www.sec.gov/. About Navios Maritime Holdings Inc. Navios Maritime Holdings Inc. is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain. Navios Holdings may, from time to time, be required to offer certain owned Capesize and Panamax vessels to Navios Maritime Partners L.P. for purchase at fair market value according to the terms of the Omnibus Agreement. For more information about Navios Holdings please visit our website: http://www.navios.com/. About Navios Maritime Acquisition Corporation Navios Maritime Acquisition Corporation is a newly organized special purpose acquisition company formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition, stock purchase or other similar business combination, one or more assets or operating businesses in the marine transportation and logistics industries. The Company's units trade on the NYSE under the symbol NNA.U. Forward Looking Statements - Safe Harbor This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and Navios Holdings' growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding expected revenues and time charters. Although Navios Holdings believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Holdings. Actual results may differ materially from those expressed or implied by such forward- looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for dry bulk vessels, competitive factors in the market in which Navios Holdings operates; the successful consummation of Navios Acquisition's public offering and the related private placement; Navios Acquisition's performance following its public offering; risks associated with operations outside the United States; and other factors listed from time to time in Navios Holdings' filings with the Securities and Exchange Commission. Navios Holdings 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 Navios Holdings' expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Public & Investor Relations Contact: Navios Maritime Holdings Inc. Investor Relations +1.212.279.8820 DATASOURCE: Navios Maritime Holdings Inc. CONTACT: Investor Relations, Navios Maritime Holdings Inc., +1-212-279-8820, Web site: http://www.navios.com/

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