Puda Coal, Inc. Clarifies Eligibility for Resales Made Pursuant to Rule 144

Market Wire, November, 2006

Puda Coal, Inc . ("Puda" or the "Company") (OTCBB: PUDC), a leading supplier of China's highest grade metallurgical coking coal -- which is used to make coke for steel manufacturing -- had extremely and unusually high trading volume in its stock today.

On September 13, 2006, Puda filed a current report on Form 8-K announcing that it would restate its financial statements for the quarterly period ended March 31, 2006 and for the fiscal year ended December 31, 2005. Until those restatements to the financial statements are filed with the Securities and Exchange Commission, there will not be available adequate current public information with respect to Puda Coal, Inc. as required under Rule 144(c) of the Securities Act of 1933, as amended.

Puda anticipates that it will not complete the filing of the restatements until November 21, 2006 Eastern Standard Time. The sale of shares of common stock of Puda under Rule 144 cannot be made until all the restatements have been filed.

About Puda Coal, Inc.

Puda Coal , through its affiliates and controlled entities, supplies premium grade coking coal to the steel making industry for use in making coke. The Company currently possesses 2.7 million metric tons of annual coking coal cleaning capacity, and management believes it is the largest coking coal cleaning company in terms of capacity in Shanxi Province, China. Shanxi Province provides 20-25% of China's coal output and supplies nearly 50% of China's coke.

FORWARD-LOOKING STATEMENTS

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