Ashmore Announces Holdings in Coalcorp Mining Inc.

    LONDON, Sept. 16 /CNW/ - Ashmore Investment Management Limited, the
London based investment manager, has announced that it has acquired on behalf
of Ashmore Global Special Situations Fund 4 Limited Partnership ("Ashmore") a
further 12,252,409 common shares of Coalcorp Mining Inc. ("Coalcorp"),
representing 7.1% of the class of common shares. Ashmore acquired the common
shares through market purchases on the Toronto Stock Exchange at an average
price of CAD$1.15 per common share.
    The shares acquired, when taken together with Ashmore's existing
holdings, comprise a total of 34,584,109 common shares of Coalcorp,
representing 19.9% of the class.
    The common shares of Coalcorp have been acquired by Ashmore for
investment purposes. Ashmore may from time to time, depending on market and
other conditions, increase or decrease such holdings of common shares or other
securities of Coalcorp.

    The issuance of this news release is not an admission that an entity
named in the news release owns or controls any described securities or is a
joint actor with another named entity.

    Ashmore is located at 61 Aldwych, London WC2B 4AE, United Kingdom. A copy
of the filed report which is the subject of this news release may be obtaining
by calling Jerome Booth at (44) 203 077 6000.

For further information:

For further information: Jerome Booth, Ashmore Investment Management
Limited, (44) 203 077 6000

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