Rupee Facility Agreement

21 January 2013

Great Eastern Energy Corporation Limited

("Great Eastern" or the "Company")

Rupee Facility Agreement for INR 2,450 Million

Great Eastern Energy Corporation Limited (LSE: GEEC), the fully integrated, leading Indian Coal-Bed Methane (CBM) company is pleased to announce that it has signed a Rupee Facility Agreement with a consortium of Indian banks for providing a Rupee term loan facility of INR 2,450 Million (~ US$ 45 million) at a floating interest rate of ~13% per annum (2.5% to 3% above the banks' base rate) with a door to door tenure of 7.5 years.

The Company has drawn down Rs. 825 Million. With the addition of this term loan facility, the total drawn facilities by the company, including the existing rupee term loan and ECB facility, is ~ US$ 133 Million.

For Further Information please contact:

Great Eastern Energy

Yogendra Kr. Modi Chairman & CEO +44 (0)20 7337 1516

Prashant Modi President & COO

Arden Partners

Richard Day +44 (0)20 7614 5917

Goldman Sachs International

James Anderson +44 (0)20 7774 1000

M: Communications

Ann-marie Wilkinson +44 (0)20 7920 2330

Andrew Benbow