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Sale of NWR Energy

Monday, January 11th, 2010

New World Resources N.V. Central Europe’s leading hard coal producer, announces that it has concluded the sale of its subsidiary NWR Energy, a.s. (“NWR Energy”) to Dalkia Ceska Republika, a.s. (“Dalkia”) for approximately EUR 122 million in cash, to be further adjusted on the basis of NWR Energy’s 2009 consolidated EBITDA, performance of the electricity trading portfolio of CZECH-KARBON s.r.o. (“Czech Karbon”) and net debt. The EBITDA price adjustment may result in an increase of the purchase price of no more than approximately EUR 6 million. The adjustment related to the performance of Czech Karbon’s electricity trading portfolio may result in a reduction of the purchase price of no more than approximately EUR 2 million.
NWR Energy and its subsidiaries will continue to supply OKD, a.s. (“OKD”) with key utilities and services under a long-term agreement.
The transaction is expected to close in early 2010, following the fulfillment of a number of conditions precedent, including approvals by relevant antitrust offices and NWR lenders.
“The sale of our energy business to Dalkia, an internationally reputed energy company, is fully in line with NWR’s strategy to focus on its core activities of coal mining and coke production. We believe that outsourcing our energy supplies will enable us to further optimise our core activities. For NWR Energy, the integration with Dalkia will provide the business with the potential for further development. We are pleased with the deal and look forward to a long-term cooperation with Dalkia”, said Marek Jelinek, Executive Director and Chief Financial Office of NWR.
NWR expects to use the net proceeds of the sale for corporate purposes, including possible debt prepayments.

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