Investments of Pala Investments Holdings Limited in Coalcorp Mining Inc.

    TORONTO, Jan. 16 /CNW/ - Pala Investments Holdings Limited ("PIHL")
announced today that it has acquired through the facilities of The Toronto
Stock Exchange ownership of an aggregate 3,500,800 common shares of Coalcorp
Mining Inc. ("Coalcorp") through purchases on December 18, 2007 and January
14, 2008. These acquisitions increase its share ownership in Coalcorp to
17,163,214 representing, to the knowledge of PIHL, 19.14% of the issued and
outstanding shares of Coalcorp. PIHL has acquired the shares for investment
purposes only. PIHL may acquire additional securities if they become available
at prices that are attractive to PIHL.

For further information:

For further information: Jan Castro at 011 41 41 560 9070

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Pala Investments Holdings Limited

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