SOURCE: Puda Coal, Inc.

November 09, 2006 09:00 ET

Puda Coal, Inc. Announces Significant Sales to Major New Customer

TAIYUAN CITY, CHINA -- (MARKET WIRE) -- November 9, 2006 -- Puda Coal, Inc. ("Puda" or the "Company") (OTCBB: PUDC), a leading supplier of China's highest grade metallurgical coking coal -- which is used to make coke for steel manufacturing, announced today that it has achieved significant sales to major new customer Wulin Coke. Puda began delivering to Wulin Coke in Q2 '06; the 53,388 metric tons (MT) delivered placed Wulin Coke behind only Baotou Steel as Puda's largest customer in the second quarter.

Puda delivered an additional 50,040 MT to Wulin Coke in Q3 '06; the 103,429 MT delivered year-to-date ranked Wulin Coke third among all clients and is equal to approximately 15% of total 2005 sales across all customers.

About Puda Coal, Inc.

Puda Coal, through its affiliates and controlled entities, supplies premium grade coking coal to the steel making industry for use in making coke. The Company currently possesses 2.7 million metric tons of annual coking coal cleaning capacity, and management believes it is the largest coking coal cleaning company in terms of capacity in Shanxi Province, China. Shanxi Province provides 20-25% of China's coal output and supplies nearly 50% of China's coke.


The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact Information