increases millenium ownership 1 April 2005EXCEL COAL TO INCREASE...

increases millenium ownership 1 April 2005

EXCEL COAL TO INCREASE ITS OWNERSHIP OF MILLENNIUM TO 85%

Excel Coal Limited (Excel) has agreed to acquire a further 7.4% of Millennium Coal Pty Ltd (Millennium) from Millennium’s minority shareholders. Consideration for these shares is 2,160,900 new, fully-paid Excel shares plus $0.114 per new Excel share (ie, $246,342 in total). This transaction will be completed on the same terms as the acquisition of Millennium shares announced to the Australian Stock Exchange on 4 March 2005.

The newly issued Excel shares will amount to approximately 1% of the total Excel shares on issue.
Subject to completion of this acquisition and the transactions outlined in the announcement of 4 March 2005, Excel’s ownership of Millennium will increase to approximately 84.6%.

For further information, please contact:

Tony Haggarty – Managing Director
Tel: 02 9247 2900

Kate Kerrison
Kate Kerrison + Company
Tel: 0413 946 704
(02) 6746 3221
Email: [email protected]