Press Releases

E.ON appoints globalCOAL to operate e-tender

LONDON, UK, 28 November, 2001 - globalCOAL, the coal e-marketplace backed by leading industry consumers & producers, is pleased to announce that E.ON Kraftwerke GmbH (E.ON) of Germany has appointed globalCOAL to operate an electronic tender during Q1 2002.

E.ON will tender for 100 000 metric tonnes of globalCOAL’s ARA1 specification coal (DES basis) for delivery in Q2 2002, with the tender to be conducted in the first quarter of 2002. globalCOAL has been appointed by E.ON to manage the tender in an electronic format utilising their unique Tender / Request-For-Proposal System. The tender will operate in a reverse auction format and will be open to only globalCOAL Market Members.

Commenting on the appointment, Frank Huschka, E.ON’s Manager of Fuels said:

“We are very pleased to be using globalCOAL’s Tender/RFP System as it represents the most efficient means of procuring E.ON’s coal requirements, saving both E.ON and the participants time and money, while achieving the most competitive price.”

globalCOAL’s custom made Tender / RFP System enables consumers of coal to run true real-time, quality-adjusted reverse auctions ("Dutch Auctions"). The system can also be run in "English" auction configuration for producers wishing to sell coal. Unlike many other systems of this nature, the Tender/RFP System has been designed specifically for the coal industry.

globalCOAL's Tender/RFP System is individually customised to meet the specific needs of each client. Features of the Tender/RFP System include:

• Real-time quality adjustment for calculation of evaluated prices.
• "True" real-time transmission of incoming bids/offers (i.e. if a supplier in Australia types in a price, a competing supplier in Colombia would see the Australian supplier's (evaluated) price appear automatically on their screen within seconds.
• Detailed records are compiled and logs maintained during bidding to ensure a fair market.

About globalCOAL

About E.ON

Issued jointly by Global Coal Limited and E.ON Kraftwerke GmbH.

ENDS.

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globalCOAL Enjoys Highly Succesful Launch

LONDON, UK, July 6, 2001- globalCOAL, the coal e-marketplace backed by leading industry players, has enjoyed a highly successful launch of its standardised coal platform, which commenced trading on May 16, 2001. Only seven weeks after going live, trading activity among globalCOAL Market Members has well exceeded 1 million tonnes, with deals being concluded out as far as December 2002.

Despite a seasonally quiet seaborne steam coal market, globalCOAL Members have executed 22 transactions for a total 1.39 million tonnes, with a market value of US$46.4m. In excess of 4 million tonnes of coal is currently on bid or offer and prices have been quoted out as far as December 2002.

There are currently 20 Market Members participating in the globalCOAL system with over 70 client screens. Companies wishing to buy and/or sell coal via globalCOAL’s systems need to become registered Market Members by signing globalCOAL’s Usage Agreement. Full details are available at www.globalcoal.com.

Commenting on the post-launch phase, Sean Gilbertson, CEO of Global Coal said:

“We are particularly pleased by the market’s positive reaction to globalCOAL’s debut. The high level of activity and interest clearly signals that globalCOAL is the future of electronic coal trade.”

About globalCOAL

ENDS.

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Global Coal Announces The Start of Live Trading

On 18 April 2001, the founding shareholders of Global Coal: Accel-KKRCompany LLC, Anglo American plc, Billiton plc, E.ON Kraftwerke GmbH, Enel FTL, EPDC Overseas Coal Company Limited, Glencore International A.G, Rio Tinto plc and TXU Europe Energy Trading Limited, completed the company's establishment following the signing of the shareholders' agreement on 6 April 2001.

Global Coal's Standard Coal System software can be downloaded from www.globalcoal.com. The last of a series of mock trading sessions will be held on Friday, 11 May 2001. These mock trading sessions are free and open to all interested parties. There will be two sessions on that day, from 08:00 to 09:00 and 15:00 to 16:00 London time.

Companies wishing to buy and/or sell coal via Global Coal's systems on and after Wednesday, 16 May 2001 need to become registered Market Members by signing Global Coal's Usage Agreement.

With regard to these developments, Sean Gilbertson, CEO of Global Coal, said:

"The establishment of Global Coal finalises the foundation for the creation of the world's leading coal e-marketplace. The standing of the companies involved makes this foundation particularly robust. We now look forward to the participation of the coal industry at large and to the successful launch of trading on 16 May 2001."

About Global Coal

Global Coal's business is founded on four principles:

1. Confidentiality: Global Coal will not disclose commercially sensitive information (such as transaction data) to any third party, including Global Coal shareholders.
2. Openness: Global Coal's systems are available for use by all industry participants.
3. Independence: Global Coal is a separate legal entity with an independent management team.
4. Neutrality: Global Coal's Board of Directors provides balanced representation for both buyers and sellers. In addition, Global Coal itself neither buys nor sells coal.

About Global Coal's Shareholders

Accel-KKR

Anglo American

Billiton

On 18 March 2001, the Group announced its intention to merge with BHP of Australia to create one of the world's premier diversified resources companies. If the proposal receives shareholder and regulatory approval, then BHP Billiton (www.bhpbilliton) will occupy industry-leader or near-leader positions in aluminium, metallurgical coal, seaborne steam coal, copper, ferro-alloys, iron ore and titanium minerals and have substantial interests in oil, gas, liquefied natural gas (LNG), nickel, diamonds and silver.

EPDC

Enel FTL

Enel FTL aims to become a skilled, integrated player in domestic and international fuel markets. Therefore, its chief areas of activity and development are the supply of all fuels to Enel Group companies, the trading of oil products, coal and gas as well as related logistic services (shipping etc). Enel FTL also provides customers with integrated fuel logistics by using its logistics organisation, which serves all of Italy and also manages commodity risk, for both the Enel Group and third parties.

E.ON

Glencore

Rio Tinto

TXU

Already one of the UK's leading energy companies, TXU Europe now has a significant presence through energy joint-ventures, trading and asset ownership in the Nordic region and across central Europe including 51% ownership of Stadtwerke Kiel and a trading headquarters in Geneva. TXU Europe is one of the continent's fastest growing energy businesses.

ENDS.

PRESS CONTACT and MARKETING ENQUIRIES:
John Loewen
john.loewen@globalcoal.com
+ 44 20 7368-3907 (tel)
+ 44 20 7368-3901 (fax)
TRADING ENQUIRIES:
Richard Bennett
richard.bennett@globalcoal.com
+ 44 20 7368-3909 (tel)
+ 44 20 7368-3901 (fax)

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Global Coal Prepares for Launch with Draft Standard Coal Trading Agreement, New Website and Start of Mock Trading Sessions