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Westmoreland Coal Company Closes Sale of Coal Bed Methane Property

Posted on: Friday, 3 March 2006, 12:00 CST

Westmoreland Coal Company (AMEX: WLB) announced today that the sale of North Central Energy Company's undivided mineral interests in two leases in southern Colorado, previously announced on February 9, 2006, has closed as of March 1, 2006. An independent oil and gas company purchased the mineral interests from North Central, a wholly owned subsidiary of Westmoreland Coal Company, for approximately $5 million. The sale of the leases will result in a pre-tax gain of approximately $5 million during the first quarter of 2006.

Westmoreland Coal Company is the oldest independent coal company in the United States. The Company's coal operations include Powder River Basin coal mining in Montana and lignite mining operations in Montana, North Dakota and Texas. Its power operations include ownership interests in two coal-fired and one natural gas-fired generating plants. Westmoreland is implementing a growth strategy dedicated to meeting America's dual goals of low-cost power and a clean environment through the acquisition and development of complementary, niche opportunities in coal, power and other segments of the energy sector. For more information, visit www.westmoreland.com.

Source: Business Wire

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