Strategic Investment

Global Coal Management PLC
22 January 2007

22 January 2007


  Strategic Investment in Bangladesh's Leading PSTN Operator providing Fixed,
                    Wireless Loop, Data and Internet Service


Global Coal Management plc ('GCM'), formerly Asia Energy Plc, (AIM: GCM)
announces it has signed a Memorandum of Understanding ('MOU') to make a further
strategic investment in Bangladesh by subscribing for 26.5% of the equity in
Peoples Telecom and Information Services Ltd  ('PeoplesTel'). The US$5 million
investment is subject to the approval of the Bangladesh Board of Investment 
('BOI').


GCM has identified PeoplesTel as an exciting investment opportunity which also
brings significant benefits to the development of the Phulbari Coal Project 
('the Project') by ensuring that modern and extensive telecommunication networks
and infrastructure are in place across all areas (mine site, transport corridor,
port operations etc.) of the Project.


Steve Bywater, Global Coal Management's CEO commented:


    'I am delighted with this investment in PeoplesTel. It demonstrates our
strong desire to play a positive role in the development of Bangladesh's
economic infrastructure and is entirely consistent with our long term commitment
to Bangladesh.  It will also ensure that we have a world class telecoms
infrastructure for the Phulbari Coal Project.  We remain focused on implementing
the Phulbari Coal Project.'


PeoplesTel, an established Bangladesh fixed line telephone operator since 1989,
is currently undertaking a rapid expansion plan.  In excess of US$15 million has
been invested to date by PeoplesTel's existing shareholders, including the
founder of the company Tim Nurun Nabi.  Mr Nabi has also founded a number of
successful enterprises in Bangladesh, including Hayes (Bangladesh) Limited and
Hayes-Haier Appliances Company Limited, which is a joint venture with Haier of
China, the largest manufacturer of white goods in China.



PeoplesTel's expansion plan for the next 5 years is to provide world class voice
and data services across Bangladesh, targeting 1 million new subscribers and
focusing on the developing rural regions.  PeoplesTel has BOI approval to invest
up to US$379 million of domestic and foreign investment to provide fixed line or
wireless telephone connections in Bangladesh.  This gives PeoplesTel the ability
to grow rapidly by reinvesting cash flow without needing further Government
approvals.



The US$5 million investment will be used by PeoplesTel to acquire the capital
equipment (primarily handsets and electronic switching devices) to add a further
55,000 fixed line and wireless loop subscribers to the network.  This will
significantly increase the company's turn-over and cash flow positions and allow
PeoplesTel to continue to expand its network, services and subscribers.  The
network currently being completed is able to handle approximately 1 million
subscribers without the need for additional major infrastructure to be
installed.



Currently, PeoplesTel has 120 operational exchanges throughout all 4 regions
(North West, North East, South West and South East) of the country and an
additional 23 CDMA 2000 1X 450 MHZ WLL BTS have been  integrated into the
network in December 2006.  PeoplesTel currently employs over 280 people.



PeoplesTel is strategically positioned to secure a license for Dhaka City
(expected to be issued in 2007).  It owns the largest range of wireless spectrum
of any operator in Bangladesh, including the valuable 3G compliant 450MHz
spectrum, and has recently secured a VoIP License.



PeoplesTel, having recently completed a 17km fibre optic ring around Dhaka City,
has full interconnect agreements in place with the major cellular operators and
fixed line operators, including the government owned BTTB.  These companies
collectively access approximately 15 million subscribers. PeoplesTel has leased
an additional 208km fibre optic backbone to connect to the densely populated
(approximately 7 million people), and high GDP generating, region of Chittagong.


For Further Information:


Stephen Bywater                                        Cathy Malins or Annabel Leather

Chief Executive                                        Parkgreen Communications

Ph: [phone]                                Ph: [phone]

Graham Taggart

Finance Director

Ph: [phone]


Notes to Editors


Global Coal Management plc:

Global Coal Management (formerly Asia Energy plc) is a London based company
quoted on the London Stock Exchange's Alternative Investment Market ('AIM').
The Company's primary activity is the development of the Phulbari Coal Project
in Northwest Bangladesh into a world class open pit mine, adhering to the
highest national and international environmental and social standards.  The mine
will have a life of more than 30 years and at full capacity will produce 15
million tonnes a year of mostly export quality metallurgical and thermal coal.
Its objective is to start mining activity once it has Government of Bangladesh
approval for the Scheme of Development, following the Government election in
2007.

For further information: www.asia-energy.com


Peoples Telecommunication & Information Services Ltd:

PeoplesTel has a licence to operate fixed, wireless local loop along with voice
data, image and all forms of telecommunication services in Bangladesh.
PeoplesTel has been in operation since 1989 as rural operator and converted to a
national operator since 2005. PeoplesTel has a huge network covering Bangladesh.
 PeoplesTel has over 6000 KM of Microwave links covering all the major cities of
Bangladesh.  PeoplesTel has already installed four gateway switches, 120 local
switches, 3 BSC, 34 BTS with the latest CDMA 2001X 450 MHZ dual carrier state of
the art wireless local loop services.  PeoplesTel has the necessary human
resources to implement its expansion plan and provide a consistently high
standard of service.  For further information: www.ptelco.net



                      This information is provided by RNS
            The company news service from the London Stock Exchange