Director Dealings and Exercise of Warrants

Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining

18 January 2011

Atlantic Coal plc ('Atlantic' or 'the Company')

Director dealings

Exercise of warrants and issue of equity

Director Dealings

Atlantic Coal Plc, the AIM listed open cast coal production and processing company with activities in Pennsylvania, USA, announces that it today received notification that on 18 January 2011, Adam Wilson, Non-Executive Chairman, sold 85,000,000 ordinary shares of 0.07p each in the Company ("Ordinary Shares") at an average price of 1.788 pence per ordinary share (the "Director Sale Shares").

Exercise of options and warrants

The Company also announces that it has today received notification from Adam Wilson to exercise options and warrants in an aggregate number of 84,574,070 Ordinary Shares as follows (the "Directors Shares"):

Following the sale of these Director Sale Shares and the exercise of the Directors Options and Directors Warrants Adam Wilson will hold 118,307,070 Ordinary Shares, representing 5.41% of the Company's enlarged issued share capital following Admission, as defined below. Adam Wilson holds no further options or warrants in the Company.

The Company also announces that on 17 January 2011 Allenby Capital Limited exercised warrants to acquire 13,337,120 Ordinary Shares (the "Allenby Shares"). These warrants were issued pursuant to a warrant instrument dated 1 April 2009 issued by the Company. The exercise price for the Allenby Shares is 0.5p per Allenby Share and the aggregate subscription price for the Allenby Shares has been received by the Company.

The Company also announces that on 17 January 2011 Gregory Kuenzel exercised options to acquire 3,000,000 Ordinary Shares (the "Option Shares"). These options were issued pursuant to an option agreement dated 15 September 2008 issued by the Company (the "Option Agreement"). The exercise price for the Option Shares is 0.5p per Option Share and the aggregate subscription price for the Option Shares has been received by the Company. Pursuant to the terms of the Option Agreement, Gregory Kuenzel will continue to hold 7,500,000 options to subscribe for Ordinary Shares.

Application will be made for the Directors Shares, the Allenby Shares and the Option Shares (together, the "New Shares"), which will rank pari passu with the Company's existing Ordinary Shares in issue, to be admitted to trading on AIM ("Admission"). It is expected that Admission will be effective and that dealings in the New Shares will commence on or around 21 January 2011.

Following the issue of the New Shares, the enlarged issued share capital of the Company will be 2,187,846,939 Ordinary Shares. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

**ENDS**

For further information on the Company, visit: www.atlanticcoal.com or contact: