Anker Extends Exchange Offer

Apr 11, 2001, 01:00 ET from Anker Coal Group, Inc.

    MORGANTOWN, W.Va., April 11 /PRNewswire/ -- Anker Coal Group, Inc. (the
 "Company") announced today that it has extended the expiration of the
 Company's announced offer to exchange up to 38,006 shares of its Class E
 Convertible Preferred Stock for up to $38,006,000 in aggregate principal
 amount of its outstanding 14.25% Series B Second Priority Senior Secured Notes
 due 2007 (PIK through April 1, 2000) (the "Notes") until 11:00 a.m., New York
 City time, on Wednesday, April 11, 2001, unless further extended.  The
 exchange offer had been scheduled to expire at 5:00 p.m., New York City time,
 on April 10, 2001.  The Company said all other terms of the exchange offer
 remain unchanged.
     The expiration of the exchange offer is being extended because the
 condition to consummation of the exchange offer that at least $34.2 million in
 aggregate principal amount of our Notes be validly tendered and not withdrawn
 has not been met.  As of 5:00 p.m. New York City time, on April 10, 2001, an
 aggregate principal amount of $29.6 million of Notes had been tendered and not
 withdrawn.
 
     This release may contain statements that constitute forward-looking
 statements within the meaning of the Private Securities Litigation Reform Act
 of 1995.  Such forward-looking statements are not guarantees of future
 performance and involve risks and uncertainties.  Actual results may differ
 materially from those described or implied herein as a result of various
 factors, many of which are beyond the Company's control.
     Anker Coal Group, Inc. and its subsidiaries produce and sell coal used
 principally for electric generation and steel production in the eastern United
 States.
     For more information, please contact Bruce Sparks of Anker Coal Group,
 Inc. at 304-594-1616.
 
     This announcement is not an offer to exchange nor a solicitation of an
 offer to exchange.  The offer is made only by an Offer to Exchange dated
 February 23, 2001 and the related Letter of Transmittal.
 
 

SOURCE Anker Coal Group, Inc.
    MORGANTOWN, W.Va., April 11 /PRNewswire/ -- Anker Coal Group, Inc. (the
 "Company") announced today that it has extended the expiration of the
 Company's announced offer to exchange up to 38,006 shares of its Class E
 Convertible Preferred Stock for up to $38,006,000 in aggregate principal
 amount of its outstanding 14.25% Series B Second Priority Senior Secured Notes
 due 2007 (PIK through April 1, 2000) (the "Notes") until 11:00 a.m., New York
 City time, on Wednesday, April 11, 2001, unless further extended.  The
 exchange offer had been scheduled to expire at 5:00 p.m., New York City time,
 on April 10, 2001.  The Company said all other terms of the exchange offer
 remain unchanged.
     The expiration of the exchange offer is being extended because the
 condition to consummation of the exchange offer that at least $34.2 million in
 aggregate principal amount of our Notes be validly tendered and not withdrawn
 has not been met.  As of 5:00 p.m. New York City time, on April 10, 2001, an
 aggregate principal amount of $29.6 million of Notes had been tendered and not
 withdrawn.
 
     This release may contain statements that constitute forward-looking
 statements within the meaning of the Private Securities Litigation Reform Act
 of 1995.  Such forward-looking statements are not guarantees of future
 performance and involve risks and uncertainties.  Actual results may differ
 materially from those described or implied herein as a result of various
 factors, many of which are beyond the Company's control.
     Anker Coal Group, Inc. and its subsidiaries produce and sell coal used
 principally for electric generation and steel production in the eastern United
 States.
     For more information, please contact Bruce Sparks of Anker Coal Group,
 Inc. at 304-594-1616.
 
     This announcement is not an offer to exchange nor a solicitation of an
 offer to exchange.  The offer is made only by an Offer to Exchange dated
 February 23, 2001 and the related Letter of Transmittal.
 
 SOURCE  Anker Coal Group, Inc.