The company’s first operation is the Daning mine in Shanxi Province, in which it holds a 56% ownership interest.

Gary F. Ladd has been appointed chief executive officer to lead the strategy and assessment of the future growth opportunities for AACI in China. Ladd served as president of AACI since July 2001, and is a 1981 graduate of Virginia Tech.

Stephen X. Zou has been appointed president of AACI. Zou is a Ph.D. graduate from West Virginia University, and has more than 20 years of experience in China’s coal industry. He will be leading efforts in business development and project management for AACI, and had previously served in the role of senior vice president for the company since 1999.

Ladd and Zou already serve as members of the Board of Directors of AACI. Ladd and his family plan to relocate to Beijing, later this year, while Zou will continue to lead the operational and development office of AACI in Taiyuan, the capital city of China’s Shanxi Province.

Guy Cui has been elected to the board of directors. Cui works with Hongkong and Shanghai Banking Corporation Limited (HSBC) as Director, China Team, of the Corporate Finance and Advisory group. Prior to joining HSBC earlier this year, Guy had served as the Managing Director and Head of Investment Banking at ICEA Capital Limited in Beijing since June 2002, and had also previously served as Managing Director and Chief Representative in China for NM Rothschild & Sons from February 2000.

Marshall Miller has retired from the Board of Directors. Marshall is the CEO of Marshall Miller & Associates, which he founded in 1976. He also is a founding shareholder of AACI, and has made numerous contributions to the development of AACI’s efforts in the coal and coalbed methane industries within China.