RIGHT: PRC: Pike River Dispatches Offer Document

3 May 2010 11:11 am

PRC 03/05/2010 RIGHT

REL: 1111 HRS Pike River Coal Limited

RIGHT: PRC: Pike River Dispatches Offer Document

PIKE RIVER DISPATCHES OFFER DOCUMENT

Pike River wishes to advise that dispatch to eligible shareholders and optionholders (as at the record date at the close of business on Friday 30 April 2010) of the Simplified Disclosure Prospectus (Prospectus) together with the Entitlement and Acceptance Forms in relation to the renounceable rights issue (Offer) has been completed.

In addition to the copies dispatched, the Prospectus is available to be viewed on-line at www.pike.co.nz or can be obtained by contacting Pike River on +64 4 494 0190.

The Offer is made in accordance with the Prospectus and eligible shareholders and optionholders should consider the Offer Document in deciding whether to participate in the Offer. Shareholders and optionholders wishing to participate in the Offer will need to complete the Entitlement and Acceptance Form in accordance with the instructions set out in the accompanying Prospectus.

The closing date for the Offer is Wednesday 19 May 2010*.

Further information:

Gordon Ward +64 4 494 0190 Chief Executive and Managing Director

Brian Roulston +64 9 377 3517 Company Secretary

* This date is subject to change and is indicative only. Pike River reserves the right to amend the timetable without prior written notice, subject to the respective Listing Rules of the NZSX and the ASX and relevant legislation, although an announcement of any changes will be made on the NZSX and ASX.

Pike River Coal shares are quoted on the NZSX and the ASX under the code "PRC", and rights are quoted under the code "PRCRC" on the NZSX and "PRCR" on the ASX. End CA:00194442 For:PRC Type:RIGHT Time:2010-05-03:11:11:32

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