Puda Coal, Inc. Reviewing Allegations

TAIYUAN, China, April 8, 2011 /PRNewswire-Asia-FirstCall/ -- Puda Coal, Inc. (NYSEAMEX: PUDA) ("Puda Coal" or the "Company"), a supplier of high grade metallurgical coking coal used to produce coke for steel manufacturing in China and consolidator of nine coal mines in Pinglu County Yuncheng City known as Pinglu Project and four coking coal mines in Huozhou County Linfen City known as Jianhe Project in Shanxi Province, today announced that it is currently reviewing the allegations regarding improper share transactions by the Company's Chairman, Mr. Ming Zhao, which were published on an investor website on April 8, 2011. The Company intends to provide a formal response to the allegations as soon as practical.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future 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. 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.

SOURCE Puda Coal, Inc.