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PAO POSAL FOR THE MONTp NA POWER COAL BUSINESS <br />G. Corporate Annroval. <br />This Proposal has; been reviewed and approved by WCC Senior Ivfamagement, including <br />Christopher lC Seglem, our Chairman, Chief Executive Officer, and President. The <br />WCC Board of..Directars has been apprised of this Proposal and their approval would be <br />a condition forcliising: This approval can be obtained promptly after execution of a <br />definitive Purafiase Agreements"No approval by WCC shareholders would be necessary. <br />_ Goyermnental or Other Reeulatorv Approvals <br />Other than the transfer of minuig permits and reclamation bonds, aHart-Scott-ltodino <br />filing requirement (which we believe would raise no issue and with likely eazly <br />termination of review) and any similar customary requirements, WCC is not aware of any <br />required regulatory approvals. <br />I. Time l;xnected to Close the Transaction. <br />WCC is prepared to consummate a final transaction promptly upon our selection as the <br />winning definitive proposal for W1rC0, SynCoal, Basin, NGE, and Horizon. VVe <br />anticipate that we will move quickly after our selection as the winning proposal to <br />finalize the definitive purchase agreement, complete &nancing due diligence and finalize <br />our financing arrangements, complete any last items, and secure the approval of our <br />Board of Directors. Subject to the Company's response to our Proposal, we would hope <br />to close within 60 days. <br />.I. Contact Information. <br />Todd A. Myers <br />Vice President -Business Development <br />2 North Cascade Avenue, 14`" Floor <br />Colorado Springs, Colorado 80903 <br />Office Telephone: 719-442-26UU <br />Office TeleFax: 719-448-5824 <br />Home Telephone:. ')19-487-0947 <br />E-mail: todd.myersla7westmoreland.com <br />Q!'~~~J~ <br />W ESTMORELANp COAL GO. AND SHE NORTH AMERICAN OVAL CORPORATION <br />I <br />0r 39tid Wf11Cl WIT 65S09b86LL 55~br 000Z/9T/60 <br />