Vallar publishes prospectus on acquisition of holdings in Bumi and Berau

Vallar is pleased to announce the publication of a prospectus in connection with the acquisition of holdings in PT Bumi Resources Tbk ("Bumi")

and PT Berau Coal Energy Tbk ("Berau") as set out in its announcement of 16 November 2010.

A copy of the Prospectus has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.Hemscott.com/nsm.do. Copies of the Prospectus will also be available from the Company's registered office.

The Bumi Transaction is expected to close in the week commencing 28 February 2011. At the same time, Vallar will assume control of Berau. PT Bukit Mutiara is expected to transfer title to, and registered ownership of, the Berau Shares to the Vallar group on or around 8 April 2011 after the expiry of the BCE Lock-up.

Commenting on today?s announcement, Nathaniel Rothschild, Co-chairman of Vallar, said:
?Today?s announcement represents an important milestone towards our objective of creating a London-listed Indonesian coal champion and we are extremely pleased by the progress that has been made towards integrating Vallar, Bumi and Berau since this groundbreaking transaction was announced in November.? Capitalised terms not otherwise defined in this announcement have the meanings given to them in the Prospectus. (end of release)