Walter Energy Completes Credit Facility Amendment, Resets Dividend

Walter Energy Completes Credit Facility Amendment, Resets Dividend 
BIRMINGHAM, AL -- (Marketwired) -- 07/23/13 --  Walter Energy, Inc.
(NYSE: WLT) (TSX: WLT), a leading, publicly traded "pure-play"
producer of metallurgical coal for the global steel industry, today
announced its credit facility has been amended to improve the
Company's financial flexibility. Additional details regarding the
amendment are available in an 8-K filing on the Company's website at
www.walterenergy.com. 
The Company also announced that as a result of this amendment and in
light of current metallurgical coal market conditions, the Board of
Directors has approved a reduction in the Company's regular quarterly
dividend to $0.01 per share from $0.125 per share. The dividend is
payable on Sept. 6, 2013 to shareholders of record as of the close of
business on Aug. 6, 2013.  
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, which 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 that may result in an event of default under one or more
of our debt instruments; availability of licenses, permits, and other
authorizations that 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 integrate
acquisitions successfully; 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 2012 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.  
For media:
Ruth Pachman
212-521-4891
ruth-pachman@kekst.com
or
For investors:
Mark Tubb
205-745-2627
mark.tubb@walterenergy.com