News Releases

Xstrata Coal response to Gloucester vote (PDF)

Sydney, 5 July 2007

Xstrata Coal today announced it was disappointed with the outcome of this morning's vote by Gloucester shareholders not to support Xstrata Coal's scheme of arrangement to purchase all shares at $4.75 per share.

Xstrata Coal Chief Executive, Peter Coates, said, "We are disappointed with today's vote and believe Xstrata Coal's offer was fair and provided good value for Gloucester shareholders.

"Today Xstrata Coal has demonstrated it is only prepared to pay what we perceive to be full value.

"We would like to thank the Gloucester Board and management for their support of the scheme."

Ends

For further media information:

James Rickards
Communications Manager
Xstrata Coal
Phone: 02 9253 6789
Mobile: 0419 731 371
Email: jrickards@xstratacoal.com

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