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03 December 2008

Preliminary Results

ATH Resources plc, one of the UK's largest coal producers, reports its preliminary results for the 52 week period ended 28 September 2008.

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The full results are available to download in PDF format.

Highlights

Turnover up 9% to £76.9 million (2007: £70.5 million) on sales of 2.0 million tonnes of coal (2007: 2.2 million tonnes)
Average selling price increased by 21% to £38 per tonne
Profit before interest and tax up 8% to £11.9 million (2007: £11.1 million)
Earnings per share up 4% to 15.3 pence per share (2007: 14.8 pence per share)
Dividend rebased to 6.0 pence per share for full year (2007: 11.6 pence per share), with final dividend of 2.64 pence per share (2007: 8.24 pence per share), enabling a greater proportion of investment in new, high growth, opportunities to be funded from existing cash resources
Planning consent recently received from Nottinghamshire County Council for a 0.5 million tonne regeneration project at Langton - consent from Derbyshire County Council expected in early 2009
Proven coal reserves up 29% to 4.5 million tonnes (2007: 3.5 million tonnes) with total reserves at 8.2 million tonnes (2007: 8.6 million tonnes)
Further 1.8 million tonnes increase in Proven coal reserves post year end following recent planning successes

Commenting on the preliminary results, Tom Allchurch, Chief Executive of ATH Resources, said:

"I am extremely pleased to be reporting on another year of solid profits growth. The business is starting to benefit from higher coal prices and is continuing to build upon an already healthy base of reserves and long term supply agreements. The exciting opportunities for significant growth in our regeneration business are gathering momentum and, for this reason, we have decided to rebase our dividend to allow a greater proportion of the investment required for these projects to be funded from our existing cash resources. I am confident that the Group will continue to deliver significant value to shareholders in the years ahead."

For further information:

ATH Resources
Tom Allchurch, Chief Executive	Tel: +44 (0) 1302 760 462
tom.allchurch@ath.co.uk	www.ath.co.uk

Evolution Securities Limited
Joanne Lake/Peter Steel	Tel: +44 (0)113 243 1619
joanne.lake@evosecurities.com	www.evosecurities.com

Media enquiries
Abchurch
Sarah Hollins / George Parker	Tel: +44 (0) 20 7398 7700
George.parker@abchurch-group.com	www.abchurch-group.com

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