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PUDC News Puda Coal Appoints Mr. Liping Zhu as President and...
Wednesday, July 2, 2008 8:05 AM

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News for 'PUDC' - (Puda Coal Appoints Mr. Liping Zhu as President and CEO)


TAIYUAN, Shanxi, China, July 2, 2008 /Xinhua-PRNewswire-FirstCall via COMTEX/
-- Puda Coal, Inc. (OTC Bulletin Board: PUDC) ("Puda Coal" or the "Company"), a
supplier of China's high grade metallurgical coking coal used to make coke for
the purposes of steel manufacturing, today announced that it appointed Mr.
Liping Zhu as director, President and CEO of the Company, effective June 25,
2008. Mr. Zhu replaced Mr. Ming Zhao, who will continue to serve as Chairman of
the board of directors. Mr. Zhao currently owns about 50.45% of the Company's
total outstanding common stock.

Mr. Zhu has over 20 years of experience in executive management, including 11
years of experience in the coal industry. From 1997 until he joined the Company,
Mr. Zhu served as Deputy General Manager of Shanxi Loudong-Junan Coal & Gas
Company, which is engaged in the coke, coal mining and washing business in
Shanxi Province. At Shanxi Loudong-Junan, Mr. Zhu was responsible for public and
government relationships and financing. Prior to that, Mr. Zhu served as Vice
President of Junan Company, HK from 1991 to 1997 and from 1986 to 1991 he served
as Vice President of Shenzhen-Hong Kong Industry & Trade Group and as Deputy
General Manager of Shenzhen Luohu International Trade Company. Mr. Zhu holds a
B.A. degree in English from Xinjiang University and a Master of Economics degree
from Beijing Institute of International Economy Management.

On June 30, 2008, the Company entered into an employment agreement with Mr. Zhu,
which became effective on the same date. Pursuant to the agreement, in
consideration of Mr. Zhu's services to the Company as President and CEO, he will
receive a monthly salary of $6,428.60, which is equivalent to $77,143 on an
annualized basis. In addition, Mr. Zhu will be entitled to an annual bonus of
$22,857, payable as soon as practicable after the completion of the Company's
fiscal year; provided that during the first year of Mr. Zhu's employment, he
will receive the amount of bonus that is proportionate to the time he has served
at the Company. The base salary and annual bonus will be reviewed annually by
the board and the compensation committee of the board as part of the Company's
executive compensation review process.

"We are pleased to engage Mr. Zhu as our director, President and CEO," commented
Mr. Ming Zhao, Chairman of Puda Coal. "His appointment is part of our efforts to
bring more professional management to Puda Coal and improve our corporate
governance and internal controls."

"I am excited to lead the executive team at Puda Coal. I plan to utilize my
management experience and expertise in the coal industry to improve our
operational efficiency, broaden our business opportunities and help us create
sustainable economic value for our shareholders," said Mr. Zhu.

About Puda Coal, Inc.

Puda Coal, through its subsidiaries, supplies premium grade coking coal to the
steel making industry for use in making coke in China. The Company currently
possesses 3.5 million metric tons of annual coking coal cleaning capacity in
Shanxi Province, China. Shanxi Province provides 20-25% of China's coal output
and supplies nearly 50% of China's coke.

Forward-Looking Statements

The information contained herein includes forward-looking statements. These
statements relate to future events or to our future anticipated financial
performance, and involve known and unknown risks, uncertainties and other
factors that may cause our actual results, levels of activity, performance, or
achievements to be materially different from any future results, levels of
activity, performance or achievements expressed or implied by these
forward-looking statements. You should not place undue reliance on
forward-looking statements since they involve known and unknown risks,
uncertainties and other factors which are, in some cases, beyond our control and
which could, and likely will, materially affect actual results, levels of
activity, performance or achievements. Any forward-looking statement reflects
our current views with respect to future events and is subject to these and
other risks, uncertainties and assumptions relating to our operations, results
of operations, growth strategy and liquidity. For example, our plan to improve
our corporate governance and internal control and our new CEO's plan to use his
business experience and expertise in the coal industry to improve our
operational efficiency, broaden our business opportunities and help us create
sustainable economic value for our shareholders is subject to the risks relating
to, among other things, how well and how quickly our new CEO will adapt to his
new position at the new company and work with the board and the existing
management team. We assume no obligation to publicly update or revise these
forward-looking statements for any reason, or to update the reasons actual
results could differ materially from those anticipated in these forward-looking
statements, even if new information becomes available in the future.





For more information, please contact:



Investor Relations Contact:

Crocker Coulson, President

CCG Elite

Tel: [phone]

Email: [e-mail]

Web: http://www.ccgelite.com



Company Contact:

Wenwei Tian, Chief Operating Officer;

Director of Investor Relations

Puda Coal, Inc.

Tel: [phone]

Email: [e-mail]



SOURCE Puda Coal, Inc.



www.prnewswire.com


Copyright (C) 2008 PR Newswire. All rights reserved

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KEYWORD: China

INDUSTRY KEYWORD: MNG

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SUBJECT CODE: ASI

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