GENERAL: PRC: Issue of Securities

6 Apr 2010 1:00 pm

PRC 06/04/2010 GENERAL

REL: 1300 HRS Pike River Coal Limited

GENERAL: PRC: Issue of Securities

ISSUE OF SECURITIES Announcement in terms of listing rule 7.12.1

Please be advised of an issue of securities as follows;

(a) Class of Security - Convertible Bonds, fully paid, unlisted. (b) Number issued - 5.666666 (c) The nominal value and issue price - US$50,000 per bond (no nominal value). (d) Consideration was interest of US$283,333 due for the period 1 January 2010 to 31 March 2010. (e) N/A. (f) The percentage of the total class of securities issued - 0.99% (g) The reason for issue - payment of interest due for the period 1 January 2010 to 31 march 2010 met by the issue of new Convertible Bonds in accordance with the Deed dated 13 March 2009. (h) The specific authority for the issue - Supplemental Deed between Pike River Coal Limited and Liberty Harbor LLC dated 13 March 2009. (i) The terms or details of the issue - rank pari passu with existing Convertible Bonds. (j) Total number of listed securities in existence after the issue - 347,626,204 Ordinary Shares; 64,281,875 Options (2011). (k) N/a (l) Date of issue - 1 April 2010. End CA:00193394 For:PRC Type:GENERAL Time:2010-04-06:13:00:34

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