Press Release

globalCOAL announces official opening of Singapore

LONDON, UK, 21 October, 2003

In response to the ever increasing business opportunities for steam coal trading in the Far East, globalCOAL is pleased to announce the official opening of its Singapore office. This office will be managed by Pat Markey who will lead globalCOAL?s development and growth in the Asian and Australasian coal markets. For your information, the contact details for this office are asfollows:

globalCOAL Singapore:
Patrick Markey
+65 6538 7386 (tel)
+65 6538 (fax)

Issued by Global Coal Limited which is regulated by the Financial Services Authority.

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