OXBOW CARBON LLC COMPLETES THE ACQUISITION OF SSM COAL.

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(BW)(FL-OXBOW-CARBON/SSM-COAL) Oxbow Carbon LLC Completes the Acquisition of SSM Coal

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Aug. 31, 2007--Oxbow Carbon LLC ("Oxbow") announced today that it has completed its acquisition of SSM Coal B.V. ("SSM"). Terms of the transaction were not publicly disclosed.

Oxbow Carbon specializes in calcined coke production, coal mining and marketing, petroleum coke distribution, and related services. Oxbow Carbon is the world's largest marketer of petroleum coke, a source of fuel for the cement and power industries, and one of the world's leading producers of calcined coke, a key ingredient in the aluminum process.

Oxbow is one of the largest privately held companies in Florida. With the SSM purchase, combined with the recent acquisition of Great Lakes Carbon, Oxbow Carbon now has approximately $3.4 billion in annual revenue, $1.7 billion in assets, markets more than 47 million tons of carbon annually and has over 1,200 employees in 20 countries worldwide.

"We believe this acquisition makes sense for a number of reasons," said Bill Koch, Chief Executive Officer and founder of Oxbow Carbon. "First, the companies share similar philosophies. They hire talented people who work well collectively and who continually strive to improve service for our customers. Second, we now have a broader spectrum of products and the ability to reach every market in the world for our customers and suppliers."

SSM is a 110-year old company headquartered in Rotterdam, Netherlands. It has a long and respected history of delivering coal, petroleum coke and other carbon products both in Europe and worldwide. With the acquisition of SSM, Oxbow has greatly expanded its presence in Europe, broadened its ...