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Puda Coal Announces New Customer Contract

2007-07-17 19:26 1264


TAIYUAN, China, July 17 /Xinhua-PRNewswire-FirstCall/ -- Puda Coal, Inc. (OTC Bulletin Board: PUDC) ("Puda Coal" or "the Company"), a leading supplier of China's high grade metallurgical coking coal used to make coke for the purposes of steel manufacturing, today announced it has entered into a new contract with Zhongmei Jiujin Coke and Coal ("Zhongmei") to supply up to 200,000 metric tons cleaned coking coal before the end of 2007, or 33,000 metric tons per month.

Zhongmei is a large-scale modern coke manufacturer located in Lingshi County, Shanxi Province. It is one of the major coke producers in Shanxi Province with an annual coke capacity of 2.0 million.

"We are delighted to add Zhongmei into our client base. Our increased capacity and advanced mix coal washing technology make Puda Coal an attractive supplier to large coke and steel manufacturers. Our ability to further expand and diversify our customer base demonstrates our competitiveness in the market," said Zhao Ming, Puda Coal's Chairman and Chief Executive Officer. "We plan to further increase our capacity in order to take advantage of the strong demand for cleaned coal in China."

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 3.5 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.

Forward-looking Statements

The information contained herein includes forward-looking statements. These statements relate to future events or to our future anticipated 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 do not intend 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.

For more information, please contact:

Investor Relations Contact:

Crocker Coulson, President

CCG Elite

Tel: +1-646-213-1915

Email: crocker.coulson@ccgir.com

Company Contact:

Wenwei Tian, Director of Investor Relation

Puda Coal, Inc.

Tel: +86-351-228-1302

Email: awtian@yahoo.com

Source: Puda Coal, Inc.
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Keywords: Oil/Energy
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