2003 Press Releases

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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
www.globalcoal.com
+65 6538 7386 (tel)
+65 6538 (fax)
www.globalcoal.com

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


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TFS licensed as globalCOAL product broker

LONDON, UK, 7th July, 2003

globalCOALTM's product coverage is set to make further gains following the announcement that TFS has entered into a licensing arrangement to allow the brokerage firm to voice-broker transactions based on globalCOALTM products.

The licensing arrangement allows TFS to market and arrange transactions based on globalCOALTM's various proprietary products including the Standard Coal Trading Agreement (SCoTATM), the RBTM Index, the NEWCTM Index and the various quality specifications developed by globalCOALTM for the SCoTATM contract, which includes the following: RB1TM, RB2TM, NEWCTM, ARA and BOLTM. Any transactions arranged by TFS under the licence must be between globalCOALTM Market Members or companies holding a globalCOALTM licence, for which there is no charge.

The deal demonstrates TFS's support for globalCOALTM's objective of creating standards for participants in the international coal industry, on the principle of "of the industry, for the industry". In a joint statement, TFS's David Jenkins and Mark Walters of globalCOALTM said: "We have common views on the need to provide the industry with a focal point in terms of products and indices against which participants can manage their coal price risk. The idea of focusing market liquidity in contracts designed to promote confidence and the promotion of risk management is something we share, and which we believe is beneficial for the market".

The list of parties authorised to use globalCOAL products in the course of their business can be found atwww. globalcoal.com/general/marketmembers.cfm. A copy of the globalCOALTM Product Licensing Agreement can also be found at this address.

globalCOAL TRADING/MARKETING ENQUIRIES:

globalCOAL TRADING/MARKETING ENQUIRIES:
Patrick Markey
patrick.markey@globalcoal.com
+ 44 20 7758 9110 (tel)
+ 44 20 7758 9102 (fax)
www.globalcoal.com

TFS ENQUIRIES
David Jenkins
DAVIDJ@TFS-LN.CO.UK
+44 (0) 20 7796 0888 (tel)

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

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Amerex becomes first licensed globalCOAL product b

LONDON, UK, 9 April, 2003

globalCOAL is pleased to announce that Amerex has become the first brokerage firm to be licensed to voice-broker transactions based on globalCOAL products.

The licensing arrangement allows Amerex to market and arrange transactions based on globalCOAL?s various products including the Standard Coal Trading Agreement (SCoTA), the RB Index, the NEWC Index and the various quality specifications developed by globalCOAL for the SCoTA which include the following: RB1, RB2, NEWC, ARA and BOL. Any transactions arranged by Amerex under the licence must between globalCOAL Market Members or companies holding a globalCOAL licence

globalCOAL?s licensing scheme has implications for non-brokers also. Any company which is not a globalCOAL Market Member and which wishes to use globalCOAL?s products in the course of its business can now do so provided they obtain a licence from globalCOAL. There is no charge for a licence

Mark Walters, CEO of globalCOAL said:

Amerex?s licence means that transactions based on globalCOAL products are now available via the voice-brokered market. Not only does this improve the flexibility of globalCOAL?s products, but it promotes a wider and more liquid market for physical coal and related derivative instruments. This is not an exclusive arrangement and globalCOAL looks forward to implementing licensing agreements with other parties in the near future.

Brendan Boyle, Director of Coal Brokerage Services for Amerex said:

"This licensing agreement with globalCOAL allows Amerex to expand its brokerage services to customers and provide them with access to a broader range of market products. We believe voice-brokering will continue to play an integral role in the development of the international coal market."

The list of parties authorised to use globalCOAL products in the course of their business can be found at
A copy of the globalCOAL Product Licensing Agreement can also be found at this address.

About globalCOAL
globalCOAL is a leading online marketplace for physical coal and related financial derivative instruments. Its physical trading contract, SCoTA (Standard Coal Trading Agreement), is internationally recognised and forms the basis for globalCOAL?s benchmark coal price indices, the RB Index and the NEWC Index.

globalCOAL has 34 Market Members. For further details see www.globalcoal.com.

About Amerex
Founded in 1978, Amerex is the world's largest energy broker, with offices in New York, London, Singapore, Tokyo and Houston. Amerex brokers crude and refined oil products, natural gas and gas liquids, electricity, coal, emission credits and freight as well as IPE and NYMEX futures and options. Amerex is the only voice broker to combine on one desk both physical and financial international coal products. Amerex Futures Limited is regulated by the FSA.

globalCOAL TRADING/MARKETING ENQUIRIES:
Patrick Markey
patrick.markey@globalcoal.com
+ 44 20 7758 9110 (tel)
+ 44 20 7758 9102 (fax)
www.globalcoal.com

globalCOAL TRADING ENQUIRIES:
Richard Bennett
richard.bennett@globalcoal.com
+ 44 20 7758 9106 (tel)
+ 44 20 7758 9102 (fax)
www.globalcoal.com

AMEREX ENQUIRIES
Brendan Boyle
+44 (0) 20 7304 2650 (tel)
brendanb@amerexp.co.uk

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

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SSY and globalCOAL announce Freight Derivatives Se

LONDON, UK, 10 March, 2003

globalCOALTM and SSY are delighted to announce that SSY, the world?s largest independent shipbroking group, will launch a live freight derivative trading service on globalCOAL?s trading platform.

Mark Richardson, Head of Futures at SSY said, ?We feel very strongly that a blend of voice and screen broking is going to be a great asset in maintaining our strong position in the FFA market. At this moment on voice broking we already have 3 brokers on Wet and 6 on Dry and we are actively looking to expand that number.

Mark Walters, CEO of globalCOAL stated: ?Freight constitutes a critically important component of seaborne coal trading. Our initiative with SSY will enable all globalCOAL Market Members to monitor and trade both coal and freight prices at a single location in real time. This combination provides an important new tool for exploring and implementing hedging, trading and arbitrage opportunities.

John Welham, Chairman of SSY said, ?The client base in the Mineral Sector that we and globalCOAL already share is key to the structure of this deal. globalCOAL?s shareholders and users encompass most of the World?s major coal producing/trading and consuming entities. In addition SSY brings strong links with steel mills, grain houses, freight traders and ship owners together with an established commercial presence in the Far East.

About globalCOALTM
globalCOALTM is a leading online marketplace for physical coal and related financial derivative instruments. Its physical trading contract, SCoTA (Standard Coal Trading Agreement), is internationally recognised and forms the basis for globalCOAL’s benchmark coal price indices, the RBTM Index and the NEWCTM Index.

The company was founded on April 18, 2001 by Accel-KKR Company LLC, Anglo American plc, BHP Billiton plc, E.ON Kraftwerke GmbH, Enel FTL S.P.A., EPDC Overseas Coal Co., Ltd., Glencore International AG, Rio Tinto plc and TXU Europe Energy Trading Limited and is headquartered in London, England.

globalCOAL has 34 Market Members. For further details see www.globalcoal.com.

About SSY
SSY is the World’s largest independent shipbroking group providing a comprehensive world-wide service on Dry Cargo chartering, Tanker chartering, Freight Futures, new-building contracting, sale and purchase of second-hand tonnage and demolition.

SSY’s international network of offices comprise of London, New York, Sydney, Brisbane, Vancouver, Hong Kong, Singapore, Shanghai, Jakarta, Oslo and Naples.

END OF DOCUMENT. PRESS CONTACTS:

CONTACT AT SSY
Mark Richardson
+ 44 20 7265 1871
futures@ssy.co.uk
www.ssyonline.com

globalCOALTM TRADING/MARKETING ENQUIRIES:
Patrick Markey
patrick.markey@globalcoal.com
+ 44 20 7758 9110 (tel)
+ 44 20 7758 9102 (fax)
www.globalcoal.com

globalCOALTM TRADING ENQUIRIES:
Richard Bennett
richard.bennett@globalcoal.com
+ 44 20 7758 9106 (tel)
+ 44 20 7758 9102 (fax)
www.globalcoal.com

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

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MARK WALTERS TO BECOME globalCOAL CEO

LONDON, UK, 26 February, 2003 - globalCOALTM, the coal marketplace backed by leading industry consumers & producers, is pleased to announce that Mark Walters will take over as Chief Executive Officer from Sean Gilbertson who resigned last December. The appointment becomes effective on Monday 10th March 2003.

Mr. Walters is a highly regarded figure in the coal industry with extensive experience having worked for producer, trading and consumer companies. He has also been closely involved with the development of the derivative market since the early 1990’s. His most recent role was as Vice President of Fuel and Weather Trading at TXU Europe Energy Trading Limited, which he joined in 1998.

About globalCOAL

globalCOALTM is a leading online marketplace for physical coal and related financial derivative instruments. Its physical trading contract, SCoTA (Standard Coal Trading Agreement), is internationally recognised and forms the basis for globalCOAL’s benchmark coal price indices, the RBTM Index and the NEWCTM Index.

The company was founded on April 18, 2001 by Accel-KKR Company LLC, Anglo American plc, BHP Billiton plc, E.ON Kraftwerke GmbH, Enel FTL S.P.A., EPDC Overseas Coal Co., Ltd., Glencore International AG, Rio Tinto plc and TXU Europe Energy Trading Limited and is headquartered in London, England.

globalCOAL has 34 Market Members. For further details see www.globalcoal.com.

END OF DOCUMENT.

globalCOAL TRADING/MARKETING ENQUIRIES:
Patrick Markey
patrick.markey@globalcoal.com
+ 44 20 7758 9110 (tel)
+ 44 20 7758 9102 (fax)

globalCOAL TRADING ENQUIRIES:
Richard Bennett
richard.bennett@globalcoal.com
+ 44 20 7758 9106 (tel)
+ 44 20 7758 9102 (fax)

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

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