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PIRAEUS, Greece, Nov 17, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Navios Maritime Holdings Inc ("Navios") (Nasdaq: BULK, BULKU, BULKW), one of the leading global brands in seaborne dry bulk shipping, announced today that it has entered into contracts for three long term charter-in vessels, of which 2 are Panamaxes and 1 is a Handymax. The vessels, all to be built at Japanese shipyards, are scheduled for delivery in 2007 and 2008.

"The contracts announced today further illustrate our multiple approaches to generating revenue," said Ms. Angeliki Frangou, Chairman and CEO of Navios. "These long-term charters will complement our existing chartered-in fleet and add to the diversity of our operation, which includes wholly-owned vessels and our Uruguay port facility. We expect that these vessels will generate significant revenue for our Company and provide enhanced value to shareholders."

The charter-in vessels to be added to the fleet are reflected in the table
below:

                              Expected                                Purchase
    Vessel Type     DWT       Delivery      Charter                   Option
    Panamax         82,000    Q4 2007       7 years + option 2 years   Yes
    Panamax         76,500    Mid 2008      7 years + option 2 years   Yes
    Ultra-Handymax  55,100    Summer 2008   7 years + option 2 years   No

    New Vessel Delivery

Navios announced the delivery of a new vessel to its long-term chartered- in fleet, the Navios Titan. The Titan is an 82,800 dwt Panamax built in 2005 at the Tsuneishi Shipyard in Japan. The Titan has been chartered by Navios for five-years with an option for three additional years. The Titan has been chartered out on a multi-year contract at a favorable rate.

Chartered-In Fleet Update

Including the Navios Titan, Navios currently controls 17 vessels under long-term charters. Nine of these vessels have unexercised purchase options. Of the 17 chartered-in vessels, 9 are currently in operation and 8 are scheduled for delivery at various times over the next three years. The vessels are chartered in at rates well below the spot market, and the average age of the current fleet is under 3.5 years of age.

Exercise of Purchase Options

Navios also announced that it had exercised purchase options on the following six vessels within the last three months:

Vessel Name        DWT       Year Built    Vessel Type
    Navios Meridian    50,316    2002          Ultra-Handymax
    Navios Mercator    53,400    2002          Ultra-Handymax
    Navios Magellan    74,333    2000          Panamax
    Navios Galaxy      74,195    2001          Panamax
    Navios Arc         53,514    2003          Ultra-Handymax
    Navios Horizon     50,346    2001          Ultra-Handymax

The option on the Navios Horizon was exercised on November 15, 2005. At this time, Navios has executed all currently exercisable purchase options on its chartered-in fleet. Navios expects that by exercising these six purchase options, it will recognize a positive annual EBITDA contribution of approximately $12 million. Upon delivery, Navios will have 12 owned vessels in its fleet. Navios expects to take delivery of the first of these options, the Navios Meridian, during the week of November 28, 2005.

About Navios Maritime Holdings Inc.

Navios Maritime Holdings, Inc. is one of the leading global brands in seaborne dry bulk shipping and is a trusted partner for industrial end users, shipowners, financial business partners, agents and brokers. As a public company, Navios is committed to providing best-in-class service to both customers and business partners. Navios maintains offices in South Norwalk, Connecticut; Piraeus, Greece, and Montevideo, Uruguay. Navios's stock is listed on the NASDAQ's National Market System where its Common Shares, Units, and Warrants trade under the symbols "BULK", "BULKU" and "BULKW" respectively. Risks and uncertainties are described in reports filed by Navios Maritime Holdings Inc. with the United States Securities and Exchange Commission. Safe Harbor

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Navios Maritime Holdings Inc. (Navios). Forward looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of Navios's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The information set forth herein should be read in light of such risks. Navios does not assume any obligation to update the information contained in this press release.

Public & Investor Relations Contact:
    Navios Maritime Holdings Inc.
    Investor Relations
    212-279-8820
    investors@navios.com

SOURCE Navios Maritime Holdings Inc.

Public & Investors - Navios Maritime Holdings Inc., Investor Relations,
+1-212-279-8820, investors@navios.com

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