Navios Maritime Acquisition Corp.

Press Release

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May 24, 2010 at 4:16 AM EDT

Navios Maritime Acquisition Corporation Announces Preliminary Vote

PIRAEUS, Greece, May 24, 2010 — Navios Maritime Acquisition Corporation ("Navios

Acquisition") (NYSE: NNA) announced today that, as of this morning, the preliminary

vote on the business combination on the agenda for the special meeting of its

stockholders scheduled for May 25, 2010 was as follows:

Approximately 9.2 million shares in favor of such business

combination (including shares beneficially owned by Navios Maritime Holdings

Inc. and Angeliki Frangou);

Approximately 13.6 million shares against the business combination (all of which

had indicated elections to convert shares into cash)

The numbers above do not include 6,325,000 shares owned by Navios Maritime Holdings

Inc., Angeliki Frangou and other directors which are obligated to vote the same way as a

majority of the 25,300,000 shares issued in Navios Acquisition’s initial public offering

are voted.

Votes may be changed by following the process set forth in the proxy statement.

Stockholders wishing assistance in voting (or changing their vote) should contact

Morrow & Co. toll free at 800-662-5200.

Navios Acquisition may not necessarily update these preliminary vote numbers prior to

the special meeting.

About Navios Maritime Acquisition Corporation

Navios Maritime Acquisition Corporation is a publicly traded Special Purpose

Acquisition Corporation (SPAC) formed under the laws of the Marshall Islands. Navios

Acquisition serves as a vehicle for acquisition 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. If the

vessel acquisition is approved and completed, Navios Acquisition will have a fleet of 13

tankers, consisting of 11 product tankers and two chemical tankers, plus options to

purchase two additional product tankers. Following the vessel acquisition, Navios

Acquisition’s business strategy is to become a world-leading operator and charterer of

modern, high-quality product and chemical tankers. Navios Acquisition’s principal focus

going forward is the transportation of refined petroleum products (clean and dirty) and

bulk liquid chemicals.

Passive Foreign Investment Company Status

Navios Acquisition was treated as a passive foreign investment company (“PFIC”) for its

2008 and 2009 taxable years. Based upon its expected income, assets and activities,

Navios Acquisition believes that it will be treated for United States federal income tax

purposes as a PFIC for the 2010 taxable year. For more information on PFIC issues,

please see Navios Acquisition’s website at

Risks and Uncertainties; Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the

federal securities laws. These forward-looking statements inherently involve risks and

uncertainties that are detailed in Navios Acquisition’s prospectus and other filings with

the Securities and Exchange Commission and, therefore, actual results could differ

materially from those projected in the forward-looking statements. Navios Acquisition

assumes no obligation to update publicly or revise any forward-looking statements,

whether as a result of new information, future events or otherwise.

Investor Relations Contact:

Public & Investor Relations Contact:

Navios Maritime Acquisition Corporation

Investor Relations