Puda Coal Independent Committee Retains Financial Advisors In Connection with Preliminary Buy-Out Proposal from Chairman - Puda Coal (OTC:PUDA)

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Puda Coal, Inc. (NYSE: PUDA) announced today that its Independent Committee has retained Cowen and Company, LLC and Morgan Joseph TriArtisan LLC as financial advisors in connection with the previously-announced proposed preliminary buy-out offer made by Ming Zhao, the Chairman of Puda Coal, to acquire all outstanding shares of common stock of the Company. In response to the offer, the Board of Directors of the Company authorized the Independent Committee to review and evaluate the proposal and, if appropriate, negotiate its terms, and take any other action in connection therewith.

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