2007 Press Releases

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Itochu Corporation becomes a Market Member of globalCOAL's Electronic Trading Platform

LONDON, UK, 5 November 2007

Global Coal Limited is pleased to announce that Itochu Corporation has joined globalCOAL's electronic trading platform as a Market Member.

Eoghan Cunningham, CEO of globalCOAL® , stated that 'Itochu Corporation's membership is a significant addition to globalCOAL's existing Market Membership and further underlines the growth of globalCOAL's customers, specifically in Japan. We are delighted to have them on board as Market Member.'


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Credit Suisse International becomes a Market Member of globalCOAL's Electronic Trading Platform

LONDON, UK, 31 October 2007

Global Coal Limited is pleased to announce that Credit Suisse International has joined globalCOAL's electronic trading platform.

Eoghan Cunningham, CEO of globalCOAL® , stated that 'Credit Suisse International's Market Membership is a significant addition to globalCOAL's existing Market Membership and further underlines the importance of coal trading in the financial sector. We are delighted to have them on board as Market Members'


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LG International Corporation becomes a Market Member of globalCOAL's Electronic Trading Platform

LONDON, UK, 24 August 2007

Global Coal Limited is pleased to announce that LG International Corporation has joined globalCOAL's platform as of 21st August 2007.

Pat Markey, COO of globalCOAL®, stated that "We are pleased that LG International Corporation has decided to join as globalCOAL's first Korean Market Member. LG International Corporation's Market Membership underpins the growth of globalCOAL's business not only in Asia, but specifically in Korea. We believe the continued development of our business in Asia will continue to attract large players in the market like LG International Corporation to our platform."


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July NEWC Index Correction

London August 9th 2007


Following a routine audit of globalCOAL's index calculator, globalCOAL has detected an error in the calculation for the NEWC Index for the month of July 2007. The error caused the July 2007 NEWC Index to outturn at $ 66.92/mt. globalCOAL has now completed the audit and corrected the error. Therefore, the correct settlement for the July 2007 NEWC Index should be $ 66.90/mt. globalCOAL's website and SOG have been updated accordingly.

We apologise for any inconvenience this has caused. If you have any further questions, please contact the London or Singapore office.


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Tudor Energy Ltd becomes a Market Member of globalCOAL's Electronic Trading Platform

London July 13th 2007

Global Coal Limited ® is pleased to announce that Tudor Energy Ltd has joined globalCOAL's platform as of 13th July 2007.

Eoghan Cunningham, CEO of globalCOAL, stated that "We are very pleased to welcome Tudor Energy as a Market Member. The addition of a Member from the hedge fund community underlines the increasing attractiveness of the platform to financial players."


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globalCOAL and GFI resolve SCoTA Litigation

London, July 4th 2007

globalCOAL and GFI are delighted to announce that they have reached agreement with regard to GFI's use of globalCOAL's SCoTA contract and coal specifications.

As part of that agreement, GFI has agreed to revise the format of the specification of their Physical DES ARA contract on their EnergyMatch Trading Platform. Going forward, globalCOAL and GFI will work together to develop products for the international steam coal market.

Eoghan Cunningham, CEO of globalCOAL said, "We are pleased to have resolved this dispute with GFI concerning the use of globalCOAL's SCOTA contract and coal specifications on sensible terms in accordance with our Product Licensing Agreement. We can now concentrate efforts on product development for the steam coal market."

Tris Simmonds, Head of Coal Brokering for GFI said, "We are looking forward to working closely with globalCOAL in developing new contracts to bring added liquidity and transparency to the market".

Global Coal Limited


Energy House
9 King Street
London
EC2V 8EA
United Kingdom

General Enquiries & Switchboard:


phone: +44.(0)20.7776.5900
fax: +44.(0)20.7776.5902
info@globalcoal.com

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globalCOAL's First Indonesian trade takes place on its Electronic Trading Platform

LONDON, UK, 23 May 2007

Global Coal Limited is pleased to announce that it's first Indonesian coal trade (based on globalCOAL's INDO A specification) took place today on its electronic trading platform. The transaction was concluded at a price of $56.45/mt for 75,000 tonnes for delivery in June 2007.

The panamax trade was concluded FOB "basis" North Pulau Laut Coal Terminal in east Kalimatan, Indonesia but with the final price adjusted depending on where the cargo is actually loaded. The seller has the right to nominate one of nine panamax loading ports in east and south Kalimantan with the price adjustment based on pre-published transportation differentials calculated by independent Freight Broker, SSY Futures.

Pat Markey, COO of globalCOAL®, stated that ''we are delighted that globalCOAL's INDO products have begun trading and this is an important step in bringing transparency to the Indonesian market, now the world's largest steam coal export market."

INDO A Specifications:

Basic specifications for globalCOAL's INDO A product:

CV: Basis 6,200 kcal/kg GAR, minimum 5,900 kcal/kg GAR


Ash: Maximum 15.0% (as received basis)
Sulphur: Maximum 1.0% (as received basis)
Total Moisture: Maximum 18.0% (as received basis)
Volatile Matter: Minimum 38.0% and maximum 45.0% (air dried basis)

The full specifications for the INDO A, INDO A2 and INDO B products are set out in globalCOAL's proprietary physical contract SCoTA®, which can be downloaded from globalCOAL's website at


www.globalcoal.com.

globalCOAL's Indonesian products are unique in the respect that the transaction prices are adjusted not only on a quality basis, but also on a transportation basis based on the port of origin nominated using the rules within the SCoTA contract. All of the transportation differentials are calculated by independent Freight Broker, SSY Futures and are updated quarterly. The inclusion of these adjustments was necessary given the wide range of qualities of coal that are delivered at multiple locations in both East and South Kalimantan. Current freight differentials are contained in the table below.

 Price Adjustment(USD/mt)
Balikpapan Coal Terminal (Kalimantan, Indonesia)0.57
Bontang Coal Terminal (Kalimantan, Indonesia)0.61
Tanjung Bara Coal Terminal (Kalimantan, Indonesia)1.42
North Pulau Laut Coal Terminal (Kalimantan, Indonesia)0
Indonesia Bulk Terminal (Kalimantan, Indonesia)0.3
Banjarmasin Anchorage (Kalimantan, Indonesia)-1.84
Muara Pantai Anchorage (Kalimantan, Indonesia)1.12
Samarinda Anchorage (Kalimantan, Indonesia)-1.15
Tanah Merah Anchorage (Kalimantan, Indonesia)0.54

Updated differentials can be found following the link:http://www.globalcoal.com/SCoTA/indo.cfm

More about the globalCOAL INDO contracts.

globalCOAL first launched its INDO products in March 2005 with publication of SCoTA version 5. As part of globalCOAL's development process, feedback was received from consumers, producers, traders, and financial institutions involved in the Indonesian thermal coal market. SCoTA is now on version 6.

About Global Coal Ltd

globalCOAL is the world's premier marketplace facilitator for trading coal and coal related services, information, and instruments. The company was founded by leading members of the world coal industry to promote the electronic trading of thermal coal by creating standardised coal quality specifications, a Standard Coal Trading Agreement (SCoTA®) , and a fast, effective and transparent route to market.

For more information about globalCOAL, please visit our website atwww.globalcoal.com .

Global Coal Limited


Energy House
9 King Street
London
EC2V 8EA
United Kingdom

General Enquiries & Switchboard:


phone: +44 (0) 20 7776 5900

fax: +44 (0) 20 7776 5902
email: info@globalcoal.com

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Bank of America becomes a Market Member of globalCOAL's Electronic Trading Platform

LONDON, UK, 25 April 2007

Global Coal Limited is pleased to announce that Bank of America NA has joined globalCOAL's electronic trading platform.

Eoghan Cunningham, CEO of globalCOAL® , stated that 'Bank of America's Market Membership is a significant addition to globalCOAL's existing Market Membership and further underlines the attractiveness of the platform to the financial sector. We are delighted to have them on board as Market Members'


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globalCOAL® and the International Swaps and Derivatives Association (ISDA®) release a new ISDA Global Physical Coal Annex


UK London 18th April 2007


Global Coal Limited is pleased to announce that the International Swaps and Derivatives Association (ISDA) will be launching a new Coal Annex to the 2002 ISDA Master Agreement, which will incorporate to globalCOAL's SCoTA® contract by reference. This will allow physical coal trades, transacted on SCoTA terms, to be brought under the ISDA umbrella, bringing the potential for greater credit enhancement and cross-netting against other commodities or derivatives. This is a significant development in the commoditisation of steam coal.

The ISDA Global Physical Coal Annex has two Appendices: Appendix 1 contains terms for physical coal traded domestically in the United States. Appendix 2 refers to terms for physical coal traded outside of the United States and incorporates the globalCOAL SCoTA contract. You can view the ISDA Global Physical Coal Annex by going to ISDA's website:www.isda.org.Parties wishing to use SCoTA under the ISDA framework will still need to be a Member or a Licensee of globalCOAL. For more information go to www.globalcoal.com

Eoghan Cunningham, CEO of globalCOAL, stated that "We are delighted to have been able to work with the ISDA organisation in creating the Physical Coal Annex to ISDA's 2002 Master Agreement. This development should facilitate easier credit approvals for parties wishing to use SCoTA, thereby bringing greater liquidity to the international steam coal market."


About ISDAR

ISDA is the largest global financial trade association, by number of member firms and today has over 780 member institutions from 54 countries on six continents. These members include most of the world's major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entities and other end users that rely on over-the-counter derivatives to manage efficiently the financial market risks inherent in their core economic activities.

Since its inception, ISDA has pioneered efforts to identify and reduce the sources of risk in the derivatives and risk management business. Among its most notable accomplishments are: developing the ISDA Master Agreement; publishing a wide range of related documentation materials and instruments covering a variety of transaction types; producing legal opinions on the enforceability of netting and collateral arrangements (available only to ISDA members); securing recognition of the risk-reducing effects of netting in determining capital requirements; promoting sound risk management practices, and advancing the understanding and treatment of derivatives and risk management from public policy and regulatory capital perspectives.

For more information about globalCOAL, please visit our website at www.globalcoal.com .



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Adani Global Pte Ltd becomes a Market Member of globalCOAL's Electronic Trading Platform

Global Coal Limited is pleased to announce that Adani Global Pte Ltd has joined globalCOAL's platform as of 11th April 2007.


Eoghan Cunningham, CEO of globalCOAL®, stated that "The addition of Adani as a Market Member of globalCOAL is an important addition to our existing business in Asia. We believe the growth in globalCOAL's business in Asia, specifically with products in the Newcastle and Indonesian markets, continues to attract attention from the broader market."


About Adani Global Pte Ltd.

Adani Global Pte Ltd, located in Singapore is a fully owned subsidiary of Adani Enterprises Ltd of India, listed on the Mumbai Stock Exchange. For further information go to

www.adanigroup.com

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Emirates Trading becomes a Market Member of globalCOAL's Electronic Trading Platform

Global Coal Limited is pleased to announce that Emirates Trading Agency LLC has joined globalCOAL's platform as of March 29th 2007.


Eoghan Cunningham, CEO of globalCOAL, stated that "Emirates Trading's Market Membership is an important addition to globalCOAL's existing business in Asia. We believe the growth in globalCOAL's business in Asia, specifically with products in the Newcastle and Indonesian market, continues to attract attention from the broader market. globalCOAL anticipates renewed growth in our Asian products in the near future."



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Successful Launch of globalCOAL DES ARA Contract

LONDON, UK, 12 March 2007

globalCOAL is pleased to announce the successful launch of the physical DES ARA contracts on its electronic trading platform. globalCOAL is now in a position to publish a formula based Phys DES ARA Index. This is as the result of significant interest in the new DES ARA instruments after they went live this morning, with several major players posting prices in both the fixed and floating products.

This afternoon the Phys API#2 Index (DES) Q4'07 traded twice for a total tonnage of 600kt. The first trade was "given" at $0.35 for 50kt per month, with an origin of ACPRS and a Delivery Point of Amsterdam or Rotterdam. The second trade was "paid" at $0.35 for 150kt per month, again with an origin of ACPRS and a Delivery Point of Amsterdam or Rotterdam.

About Global Coal Ltd

globalCOAL is the world's premier marketplace facilitator for trading coal and coal related services, information, and instruments. The company was founded by leading members of the world coal industry to promote the electronic trading of thermal coal by creating standardised coal quality specifications, a Standard Coal Trading Agreement (SCoTAR) , and a fast, effective and transparent route to market.

For more information about globalCOAL, please visit our website at www.globalcoal.com.

Global Coal Limited

Energy House
9 King Street
London
EC2V 8EA
United Kingdom

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globalCOAL launches Phys DES ARA Product on its electronic trading platform

LONDON, UK, 08 March 2007

globalCOAL is pleased to announce that on the 12th of March 2007 it will launch its new physical DES ARA contracts on its electronic trading platform. This is in response to broad market demand for a complimentary product to globalCOAL's existing Phys ARA (FOB Barge) product. All the physical transactions for this new product will be governed by globalCOAL's new SCoTA version 6 contract, which is now available on the Download Centre of the globalCoal website www.globalcoal.com . The same ACPRS origin optionality will be provided for in the new DES ARA products. In addition, a new feature has been added to allow for the designation of delivery points (Amsterdam, Rotterdam, and Antwerp).

Eoghan Cunningham, CEO of globalCOAL said, "We are happy to be able to respond to the market's wishes in providing this product for screen trading. There has been considerable demand for a DES ARA product governed by SCoTA from the market and we believe this new product will address both our customers and the markets needs."

About Global Coal Ltd

globalCOAL is the world's premier marketplace facilitator for trading coal and coal related services, information, and instruments. The company was founded by leading members of the world coal industry to promote the electronic trading of thermal coal by creating standardised coal quality specifications, a Standard Coal Trading Agreement (SCoTAR) , and a fast, effective and transparent route to market.

For more information about globalCOAL, please visit our website at www.globalcoal.com.

Global Coal Limited

Energy House
9 King Street
London
EC2V 8EA
United Kingdom

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JP Morgan Chase Bank, N.A. becomes a Market Member of globalCOAL's electronic trading platform

LONDON, UK, 9th January 2007

Global Coal Limited is pleased to welcome JP Morgan Chase Bank, N.A. as a Market Member of its electronic trading platform. Eoghan Cunningham, Chief Executive Officer of globalCOAL said, "We are very pleased to have another established major international financial trader as a Market Member. This should bring added liquidity to the platform and underlines the increasing importance of globalCOAL as a tool to be used by coal buyers, producers and traders."

About Global Coal Ltd

globalCOAL is the world's premier marketplace facilitator for trading coal and coal related services, information, and instruments. The company was founded by leading members of the world coal industry to promote the electronic trading of thermal coal by creating standardised coal quality specifications, a Standard Coal Trading Agreement (SCoTAR) , and a fast, effective and transparent route to market.

For more information about globalCOAL, please visit our website at www.globalcoal.com.

Global Coal Limited

Energy House
9 King Street
London
EC2V 8EA
United Kingdom

General Enquiries & Switchboard:

phone: +44.(0)20.7776.5900
fax: +44.(0)20.7776.5902
email: info@globalcoal.com

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