SOURCE: Puda Coal, Inc

November 04, 2005 09:57 ET

Puda Coal, Inc. Provides EPS Guidance for Third Quarter

Net Revenues Expected to Be $17 Million to $18 Million; Net Income Expected to Be $1.3 Million to $1.5 Million

TAIYUAN CITY, CHINA -- (MARKET WIRE) -- November 4, 2005 -- Puda Coal, Inc. ("Puda" or the "Company") (OTC BB: PUDC), a leading supplier of China's highest grade metallurgical coking coal -- which is used to make coke for the purposes of steel manufacturing -- announced today that it expects third quarter revenue to be in the range $17 million to $18 million, an increase of 246% to 267%, respectively, over third quarter 2004. The Company expects net income from continuing operations in the third quarter to be in the range of $1.3 million to $1.5 million, or 32% to 52% higher, respectively, than in third quarter 2004. Puda expects earnings per share to be in the range of $0.018 to $0.02.

Puda will report its third quarter earnings on November 16th after the close of trading.

About Puda Coal, Inc.

Puda Coal, Inc., through its affiliates and controlled entities, supplies premium grade coking coal to the steel making industry for use in making coke. The Company currently produces 500,000 metric tons of cleaned coking coal annually, and management believes it is one of the largest coke coal cleaning companies 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.

FORWARD-LOOKING STATEMENTS

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