coal reserves at emerald, page-3

Brisbane, Australia, July 18, 2008 - (ABN Newswire) -

Diversified carbon-based energy company New Hope Corporation Limited (ASX: NHC.AX)(PINK:NHPEF) has entered into an agreement to sell its New Saraji Coal Project to BHP Billiton Mitsubishi Alliance (BMA) for A$2.45 billion cash.

New Hope has identified more than 690 million tonnes of coali at New Saraji (534 million tonnes inferred and 156 million tonnes indicated) which is near the town of Dysart in central Queensland.