X DELIVERABLES AND PRICING SERVICE PACKAGES

SERVICE COMPONENTS AND PRICING

FULL SERVICE

LONG TERM

SHORT /MEDIUM TERM

International Coal Trade and Price Report

● 3

International Coal Market Quarterly

● 3

● 3

International Coal Market Alerts

● 3

● 3

International Coal Trade Perspectives Conference In-House Presentation/Workshop

● 3

Two Seats

One Seat

One Seat

● 3

Available

Available

Telephone Access to Coal Analysts

Enhanced

Basic

Basic

ANNUAL SUBSCRIPTION FEE

€20,000

€14,500

€10,000

£13,400

£ 9,700

£ 6,700

$21,000 (USD)

$15,500 (USD)

$10,500 (USD)

X ABOUT GLOBAL INSIGHT ENERGY Global Insight’s Energy Group, based in London and Boston, is a premier energy consultancy. A dedicated team of more than 20 full-time energy consultants and analysts are backed by Global Insight’s 250-strong economic analysis team to provide a wide range of subscription and consultancy services that span the oil, gas, coal, and power sectors. Our authoritative energy-sector forecasts and integrated multi-fuel approach ensure a solid and independent basis for our client’s marketing, planning, and business development decisions. Industry experience and a continual program of research visits, combined with Global Insight’s global economic expertise, form the foundation of our detailed understanding and analysis of industry fundamentals and our expert forecasting. Regular services and reports cover all primary fuels and electricity. These services are utilized by many of the world’s large gas, oil, coal, and power companies. Global Insight’s consulting services leverage our wealth of business, industry, and economic information. By applying the insight and expertise of our forecasting and analytical services, Global Insight advises its clients concerning specific issues that affect their competitive positions in the marketplace. For more information about Global Insight Energy, go to www.globalinsight.com/energy

THE POWER OF PERSPECTIVE CONTACT EUROPE +44 (0) 20-8544-7924 NORTH AMERICA 1-416-682-7314 www.globalinsight.com ALL INQUIRIES [email protected]

SUMMARY Global Insight, formerly DRI-WEFA, provides the most comprehensive economic coverage of countries, regions, and industries available from any source. The company has over 3,000 clients in industry, finance, and government around the world with 500 employees and 23 offices in 12 countries covering North and South America, Europe, Africa, the Middle East, and Asia.

MYINSIGHT Register today for a free, 90-day MyInsight guest account, offering online access to Global Insight's extensive research and services. www.globalinsight.com/guest

GLOBAL COAL TRADE SERVICES SUPPLY/DEMAND AND PRICE FORECASTS Analysis of Key Industry Developments

GLOBAL COAL TRADE SERVICES

GLOBAL COAL TRADE SERVICES

SUPPLY/DEMAND AND PRICE FORECASTS

SUPPLY/DEMAND AND PRICE FORECASTS

Analysis of Key Industry Developments

Analysis of Key Industry Developments

X GLOBAL COAL TRADE SERVICES

X LONG TERM: INTERNATIONAL STEAM COAL TRADE AND PRICE SERVICE

Whether you are a producer, consumer, trader, ship owner, or broker, Global Insight's Global Coal Trade Services offer you unique, independent insights into your business. This service helps you operate more effectively in today's increasingly volatile and uncertain international coal markets. Our team of international coal experts has the market insights, data sources, and analytical skills to help you make better decisions, whether you are in short-term trading or long-term infrastructure development. Clients use our services in a variety of ways, including: J

Understanding the forward curve and associated risks

J

Assessing and planning for future freight requirements and the impacts of changing future trade patterns

J

Analysing the potential impact of major long-term structural changes, such as carbon taxes and the emergence of new exporters including China

J

Quantifying the impact of shifting exchange rates on the competitive industry landscape

An industry leader for more than 15 years, this annual service covers Global Insight's comprehensive 20-year forecast for coal demand, costs, supply, trade, and prices. The service:

40

Comparison of FOB Cash Costs

2002 FOB Cost and Prices (6000 kcal/kg Net as Received)

China

Colom bia Russia Australia

10

30

40

50

60

70

80

90

100

Australia

South Africa

Spot

Contract

Cost

Spot

Contract

Cost

Spot

Contract

Cost

0 20

Colombia

Million tonnes

Forecast Steam Coal Demand in Million Tons 700 600

Scandinavia British Isles Eastern Europe Japan Taiwan Latin America

J

Focuses on recent spot price developments and expected price developments for the next two quarters

J

Identifies key factors driving short-term market dynamics, relates these factors to underlying long-term trends, and projects market developments for the coming months

J

Provides Global Insight's quarterly forecasts for specific fob prices and freight costs associated with major exporting countries for the current and next two calendar years

J

Includes focused, topical analysis of significant short-term market issues and developments

Global Insight's International Coal Market Alerts provide clients with quick reaction to, and timely analysis of, major market developments. A critical, event-driven bridge between our regular coal analysis reports and market realities, Global Insight's International Coal Market Alerts are delivered via e-mail on an as-appropriate basis throughout the year. They serve as an early warning system to those impacted by short-term coal market movements.

0

5

10

Matches demand and supply cost estimates with future potential supplies of coal using our sophisticated Global Coal Trade Model, which projects economically efficient supply patterns and long-term coal price developments

X ONGOING: INTERNATIONAL COAL MARKET ALERTS

5

Indonesia

0

J

This latest addition to our coal analysis services addresses the increasing volumes of spot coal trade and the accompanying increase in price volatility in international coal markets. Each quarterly report:

25 US$ 20 per Ton 15 10

South Africa

$US per 20 Ton 15

Utilises Mine Costing Models and Coal Ocean Freight Costing Models to provide details on coal supply costs from all existing and potential major coal exporters

30

30 25

J

X SHORT TERM: INTERNATIONAL COAL MARKET QUARTERLY

35

35

Forecasts coal demand for over 40 countries that can potentially influence internationally traded steam coal markets

In addition to our most-likely case forecasts, Global Insight also analyses future risks to our forecasts and the potential impact of major structural changes in the industry.

Global Insight's coal analysis combines detailed bottom-up cost and technology analysis with state-of-the-art economically based market forecasts. This approach provides our clients with robust, real-world assessments of volumes, costs, and prices throughout the coal value chain.

(basis 6000 kcal/kg Net as Received - 2001)

J

X INTERACTIVE: INTERNATIONAL COAL INDUSTRY PERSPECTIVES CONFERENCE

World Coal Trade Flows

N.W. Europe S.W. Europe East Med.& Africa South Korea Other Asia North America

18/13 Atlantic Demand 172

500

Global Insight supplements its regular and ad-hoc printed analyses with an annual coal-only conference held in Europe during the middle of each year. The annual International Coal Industry Perspectives conference provides clients with an opportunity to hear Global Insight's views on short- and long-term coal markets and to exchange views with a broad range of their industry peers. In addition to the annual conference, Global Insight's economists and industry experts are always available to answer clients' questions via phone and arrange custom on-site presentations.

11 Pacific Demand 234 74

38/8

400 6

300

12

77

59

200

X CONSULTING: TAILORED ANALYSIS TO SUIT CLIENT NEEDS

8 10

100 0 2000

2005

2010

2015

2020

2025

Global Insight is uniquely qualified to provide clients with custom analytical and strategic consulting solutions that span the coal value chain. Utilising our proven rigorous methodology, our extensive databases of coal market information, and the unmatched expertise of our energy and coal analysts, Global Insight develops actionable, cost-effective solutions that help you meet your business objectives.

GLOBAL COAL TRADE SERVICES

GLOBAL COAL TRADE SERVICES

SUPPLY/DEMAND AND PRICE FORECASTS

SUPPLY/DEMAND AND PRICE FORECASTS

Analysis of Key Industry Developments

Analysis of Key Industry Developments

X GLOBAL COAL TRADE SERVICES

X LONG TERM: INTERNATIONAL STEAM COAL TRADE AND PRICE SERVICE

Whether you are a producer, consumer, trader, ship owner, or broker, Global Insight's Global Coal Trade Services offer you unique, independent insights into your business. This service helps you operate more effectively in today's increasingly volatile and uncertain international coal markets. Our team of international coal experts has the market insights, data sources, and analytical skills to help you make better decisions, whether you are in short-term trading or long-term infrastructure development. Clients use our services in a variety of ways, including: J

Understanding the forward curve and associated risks

J

Assessing and planning for future freight requirements and the impacts of changing future trade patterns

J

Analysing the potential impact of major long-term structural changes, such as carbon taxes and the emergence of new exporters including China

J

Quantifying the impact of shifting exchange rates on the competitive industry landscape

An industry leader for more than 15 years, this annual service covers Global Insight's comprehensive 20-year forecast for coal demand, costs, supply, trade, and prices. The service:

40

Comparison of FOB Cash Costs

2002 FOB Cost and Prices (6000 kcal/kg Net as Received)

China

Colom bia Russia Australia

10

30

40

50

60

70

80

90

100

Australia

South Africa

Spot

Contract

Cost

Spot

Contract

Cost

Spot

Contract

Cost

0 20

Colombia

Million tonnes

Forecast Steam Coal Demand in Million Tons 700 600

Scandinavia British Isles Eastern Europe Japan Taiwan Latin America

J

Focuses on recent spot price developments and expected price developments for the next two quarters

J

Identifies key factors driving short-term market dynamics, relates these factors to underlying long-term trends, and projects market developments for the coming months

J

Provides Global Insight's quarterly forecasts for specific fob prices and freight costs associated with major exporting countries for the current and next two calendar years

J

Includes focused, topical analysis of significant short-term market issues and developments

Global Insight's International Coal Market Alerts provide clients with quick reaction to, and timely analysis of, major market developments. A critical, event-driven bridge between our regular coal analysis reports and market realities, Global Insight's International Coal Market Alerts are delivered via e-mail on an as-appropriate basis throughout the year. They serve as an early warning system to those impacted by short-term coal market movements.

0

5

10

Matches demand and supply cost estimates with future potential supplies of coal using our sophisticated Global Coal Trade Model, which projects economically efficient supply patterns and long-term coal price developments

X ONGOING: INTERNATIONAL COAL MARKET ALERTS

5

Indonesia

0

J

This latest addition to our coal analysis services addresses the increasing volumes of spot coal trade and the accompanying increase in price volatility in international coal markets. Each quarterly report:

25 US$ 20 per Ton 15 10

South Africa

$US per 20 Ton 15

Utilises Mine Costing Models and Coal Ocean Freight Costing Models to provide details on coal supply costs from all existing and potential major coal exporters

30

30 25

J

X SHORT TERM: INTERNATIONAL COAL MARKET QUARTERLY

35

35

Forecasts coal demand for over 40 countries that can potentially influence internationally traded steam coal markets

In addition to our most-likely case forecasts, Global Insight also analyses future risks to our forecasts and the potential impact of major structural changes in the industry.

Global Insight's coal analysis combines detailed bottom-up cost and technology analysis with state-of-the-art economically based market forecasts. This approach provides our clients with robust, real-world assessments of volumes, costs, and prices throughout the coal value chain.

(basis 6000 kcal/kg Net as Received - 2001)

J

X INTERACTIVE: INTERNATIONAL COAL INDUSTRY PERSPECTIVES CONFERENCE

World Coal Trade Flows

N.W. Europe S.W. Europe East Med.& Africa South Korea Other Asia North America

18/13 Atlantic Demand 172

500

Global Insight supplements its regular and ad-hoc printed analyses with an annual coal-only conference held in Europe during the middle of each year. The annual International Coal Industry Perspectives conference provides clients with an opportunity to hear Global Insight's views on short- and long-term coal markets and to exchange views with a broad range of their industry peers. In addition to the annual conference, Global Insight's economists and industry experts are always available to answer clients' questions via phone and arrange custom on-site presentations.

11 Pacific Demand 234 74

38/8

400 6

300

12

77

59

200

X CONSULTING: TAILORED ANALYSIS TO SUIT CLIENT NEEDS

8 10

100 0 2000

2005

2010

2015

2020

2025

Global Insight is uniquely qualified to provide clients with custom analytical and strategic consulting solutions that span the coal value chain. Utilising our proven rigorous methodology, our extensive databases of coal market information, and the unmatched expertise of our energy and coal analysts, Global Insight develops actionable, cost-effective solutions that help you meet your business objectives.

X DELIVERABLES AND PRICING SERVICE PACKAGES

SERVICE COMPONENTS AND PRICING

FULL SERVICE

LONG TERM

SHORT /MEDIUM TERM

International Coal Trade and Price Report

● 3

International Coal Market Quarterly

● 3

● 3

International Coal Market Alerts

● 3

● 3

International Coal Trade Perspectives Conference In-House Presentation/Workshop

● 3

Two Seats

One Seat

One Seat

● 3

Available

Available

Telephone Access to Coal Analysts

Enhanced

Basic

Basic

ANNUAL SUBSCRIPTION FEE

€20,000

€14,500

€10,000

£13,400

£ 9,700

£ 6,700

$21,000 (USD)

$15,500 (USD)

$10,500 (USD)

X ABOUT GLOBAL INSIGHT ENERGY Global Insight’s Energy Group, based in London and Boston, is a premier energy consultancy. A dedicated team of more than 20 full-time energy consultants and analysts are backed by Global Insight’s 250-strong economic analysis team to provide a wide range of subscription and consultancy services that span the oil, gas, coal, and power sectors. Our authoritative energy-sector forecasts and integrated multi-fuel approach ensure a solid and independent basis for our client’s marketing, planning, and business development decisions. Industry experience and a continual program of research visits, combined with Global Insight’s global economic expertise, form the foundation of our detailed understanding and analysis of industry fundamentals and our expert forecasting. Regular services and reports cover all primary fuels and electricity. These services are utilized by many of the world’s large gas, oil, coal, and power companies. Global Insight’s consulting services leverage our wealth of business, industry, and economic information. By applying the insight and expertise of our forecasting and analytical services, Global Insight advises its clients concerning specific issues that affect their competitive positions in the marketplace. For more information about Global Insight Energy, go to www.globalinsight.com/energy

THE POWER OF PERSPECTIVE CONTACT EUROPE +44 (0) 20-8544-7924 NORTH AMERICA 1-416-682-7314 www.globalinsight.com ALL INQUIRIES [email protected]

SUMMARY Global Insight, formerly DRI-WEFA, provides the most comprehensive economic coverage of countries, regions, and industries available from any source. The company has over 3,000 clients in industry, finance, and government around the world with 500 employees and 23 offices in 12 countries covering North and South America, Europe, Africa, the Middle East, and Asia.

MYINSIGHT Register today for a free, 90-day MyInsight guest account, offering online access to Global Insight's extensive research and services. www.globalinsight.com/guest

GLOBAL COAL TRADE SERVICES SUPPLY/DEMAND AND PRICE FORECASTS Analysis of Key Industry Developments

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REQUEST FOR

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Please invoice my company for an annual subscription to:

● The Full-Service Retainer Package ● The Long-Term Retainer Package

€20,000

£ 13,400

$21,000 (USD)

€14,500

£ 9,700

● The Short/Medium-Term Retainer Package

€10,000

£ 6,700

Fax Completed Form To: Global Insight Contact Information:

Please invoice my company for an annual subscription to: €20,000

£ 13,400

$21,000 (USD)

$15,500 (USD)

● The Full-Service Retainer Package ● The Long-Term Retainer Package

€14,500

£ 9,700

$15,500 (USD)

$10,500 (USD)

● The Short/Medium-Term Retainer Package

€10,000

£ 6,700

$10,500 (USD)

Europe/Asia +44 (0) 20-8544-7809 Attention: Peter Seager

North America 1-416-360-0088 Attention: Peter McNabb

Peter Seager Business Development, Energy +44 (0) 20-8544-7924 [email protected]

Peter McNabb Business Development, North American Energy 1-416-682-7314 [email protected]

Fax Completed Form To: Global Insight Contact Information:

Europe/Asia +44 (0) 20-8544-7809 Attention: Peter Seager

North America 1-416-360-0088 Attention: Peter McNabb

Peter Seager Business Development, Energy +44 (0) 20-8544-7924 [email protected]

Peter McNabb Business Development, North American Energy 1-416-682-7314 [email protected]