Exhibit 99.2


PRESS RELEASE
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FINAL--FOR IMMEDIATE RELEASE


    NAVIOS MARITIME HOLDINGS INC ANNOUNCES EFFECTIVENESS OF F-1 REGISTRATION
                                    STATEMENT

Piraeus, Greece -- (August 14, 2006) - Navios Maritime Holdings Inc. ("Navios")
(NASDAQ: BULK, BULKU, BULKW) announced today that on August 14, 2006, the
Securities and Exchange Commission declared effective the Company's F-1
registration statement covering the exercise of Navios's publicly traded
warrants. Accordingly, such warrants are now freely exercisable.

ABOUT NAVIOS MARITIME HOLDINGS INC.

Navios is a vertically integrated global seaborne shipping company, specializing
in the worldwide carriage, trading, storing, and other related logistics of
international dry bulk cargo transportation. For over 50 years, Navios has
worked with raw materials producers, agricultural traders and exporters,
industrial end-users, ship owners, and charterers. Navios also owns and operates
a port/storage facility in Uruguay and has in-house technical ship management
expertise. Navios maintains offices in Piraeus, Greece, South Norwalk,
Connecticut 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", "BULKW." 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
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