Preliminary Results Indicate All Company Nominees Elected to Walter Energy Board

  Preliminary Results Indicate All Company Nominees Elected to Walter Energy
  Board

Business Wire

BIRMINGHAM, Ala. -- April 25, 2013

Walter Energy, Inc. (NYSE: WLT) (TSX: WLT) announced today that preliminary
results provided by the Company’s proxy solicitor indicate that shareholders
have elected all of the Company’s nominees to the Board of Directors at the
Company’s annual meeting by a wide margin and have rejected all five of Audley
Capital’s nominees.

Walter Energy Chairman Michael T. Tokarz and CEO and Director Walter J.
Scheller III, said: “We are grateful for the support we received from our
shareholders. We remain focused on further strengthening Walter Energy and
building shareholder value. Our strategy is sound, our liquidity is strong,
and our progress is real, despite the volatile met coal market and global
economic uncertainty. We look forward to continuing a dialogue with all of our
investors as we continue to execute our plan.”

IVS Associates, the independent inspector of election, will tabulate and
certify the election results, and final results will be announced when they
are certified.

Preliminary results indicate that the following ten directors have been
elected: David R. Beatty, Mary R. Henderson, Jerry W. Kolb, Patrick A.
Kriegshauser, Joseph B. Leonard, Graham Mascall, Bernard G. Rethore, Walter J.
Scheller, III, Michael T. Tokarz, and A.J. Wagner.

On Proposal 2, the advisory proposal on executive compensation, preliminary
results indicate it received a majority of the shares voted.

On Proposal 3, preliminary results indicate that the majority of shareholders
have voted to ratify the Audit Committee’s appointment of Ernst & Young LLP as
the Company’s independent registered public accounting firm for the fiscal
year ending December 31, 2013.

Walter Energy said it would file with the SEC a Current Report on Form 8-K
with the certified results promptly after they become available.

About Walter Energy

Walter Energy is a leading, publicly traded "pure-play" metallurgical coal
producer for the global steel industry with strategic access to high-growth
steel markets in Asia, South America and Europe. The Company also produces
thermal coal, anthracite, metallurgical coke and coal bed methane gas. Walter
Energy employs approximately 4,100 employees and contractors with operations
in the United States, Canada and United Kingdom. For more information about
Walter Energy, please visit www.walterenergy.com.

Safe Harbor Statement

Except for historical information contained herein, the statements in this
release are forward-looking and made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995 and may involve a number
of risks and uncertainties. Forward-looking statements are based on
information available to management at the time, and they involve judgments
and estimates. Forward-looking statements include expressions such as
"believe," "anticipate," "expect," "estimate," "intend," "may," "plan,"
"predict," "will," and similar terms and expressions. These forward-looking
statements are made based on expectations and beliefs concerning future events
affecting us and are subject to various risks, uncertainties and factors
relating to our operations and business environment, all of which are
difficult to predict and many of which are beyond our control, that could
cause our actual results to differ materially from those matters expressed in
or implied by these forward-looking statements. The following factors are
among those that may cause actual results to differ materially from our
forward-looking statements: unfavorable economic, financial and business
conditions; the global economic crisis; market conditions beyond our control;
prolonged decline in the price of coal; decline in global coal or steel
demand; prolonged or dramatic shortages or difficulties in coal production;
our customer's refusal to honor or renew contracts; our ability to collect
payments from our customers; inherent risks in coal mining such as weather
patterns and conditions affecting production, geological conditions, equipment
failure and other operational risks associated with mining; title defects
preventing us from (or resulting in additional costs for) mining our mineral
interests; concentration of our mining operations in limited number of areas;
a significant reduction of, or loss of purchases by, our largest customers;
unavailability of cost-effective transportation for our coal; availability,
performance and costs of railroad, barge, truck and other transportation;
disruptions or delays at the port facilities we use; risks associated with our
reclamation and mine closure obligations, including failure to obtain or renew
surety bonds; significant increase in competitive pressures and foreign
currency fluctuations; significant cost increases and delays in the delivery
of raw materials, mining equipment and purchased components; availability of
adequate skilled employees and other labor relations matters; inaccuracies in
our estimates of our coal reserves; estimates concerning economically
recoverable coal reserves; greater than anticipated costs incurred for
compliance with environmental liabilities or limitations on our abilities to
produce or sell coal; our ability to attract and retain key personnel; future
regulations that increase our costs or limit our ability to produce coal; new
laws and regulations to reduce greenhouse gas emissions that impact the demand
for our coal reserves; adverse rulings in current or future litigation;
inability to access needed capital; events beyond our control may result in an
event of default under one or more of our debt instruments; availability of
licenses, permits, and other authorizations may be subject to challenges;
risks associated with our reclamation and mine closure obligations; failure to
meet project development and expansion targets; risks associated with
operating in foreign jurisdictions; risks related to our indebtedness and our
ability to generate cash for our financial obligations; downgrade in our
credit rating; our ability to identify suitable acquisition candidates to
promote growth; our ability to successfully integrate acquisitions; our
exposure to indemnification obligations; volatility in the price of our common
stock; our ability to pay regular dividends to stockholders; costs related to
our post-retirement benefit obligations and workers' compensation obligations;
our exposure to litigation; and other risks and uncertainties including those
described in our filings with the SEC. Forward-looking statements made by us
in this release, or elsewhere, speak only as of the date on which the
statements were made. You are advised to read the risk factors in our most
recently filed Annual Report on Form 10-K and subsequent filings with the SEC,
which are available on our website at www.walterenergy.com and on the SEC's
website at www.sec.gov. New risks and uncertainties arise from time to time,
and it is impossible for us to predict these events or how they may affect us
or our anticipated results. We have no duty to, and do not intend to, update
or revise the forward-looking statements in this release, except as may be
required by law. In light of these risks and uncertainties, readers should
keep in mind that any forward-looking statement made in this press release may
not occur. All data presented herein is as of the date of this release unless
otherwise noted.

Contact:

Walter Energy, Inc.
For media:
Ruth Pachman, 212-521-4891
ruth-pachman@kekst.com
or
For investors:
Mark Tubb, 205-745-2627
mark.tubb@walterenergy.com
 
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