National Coal Corp. Receives Second Letter from Nasdaq Regarding Noncompliance with Minimum Bid Price Rule

National Coal Corp. (Nasdaq: NCOCD), a Central and Southern Appalachian coal producer, was notified by The Nasdaq Stock Market on January 5, 2010, that the Company was not in compliance with Nasdaq Marketplace Rule 5450(a)(1) because shares of its common stock closed at a per share bid price of less than $1.00 for 30 consecutive business days. In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), the Company had 180 calendar days, or until July 6, 2010, to regain compliance and failed to do so within that timeframe.

As a result, the Company received a letter from the Nasdaq Staff on July 8, 2010, indicating the Company’s common stock will be delisted from the Nasdaq Global Market because it does not meet the minimum standards for continued listing. On July 13, 2010, the Company requested a written hearing before a Nasdaq Listing Qualifications Panel to review the Staff’s determination. Pending a decision by the Nasdaq Listing Qualifications Panel, the Company’s shares will remain listed on the Nasdaq Global Market.

In addition to failing to meet the $1.00 minimum bid price requirement, the Company also is not in compliance with Nasdaq Marketplace Rule 5450(b)(3)(C) because the market value of its publicly held shares of common stock was less than $15 million for 30 consecutive business days. The Company has until December 13, 2010 to regain compliance with this continued listing requirement.

“We are going to appeal this decision because we believe that our stock can perform at the levels needed to stay listed on the Nasdaq Global Market,” explains National Coal President and CEO Daniel A. Roling. “My main concerns are increasing sales, reducing costs and improving operations while we work to refinance our debt by the end of the year. I believe that meeting these challenges will restore the value of our stock.”

About National Coal Corp.

Headquartered in Knoxville, Tenn., National Coal Corp., through its wholly owned subsidiary, National Coal Corporation, is engaged in coal mining in East Tennessee. Currently, National Coal employs about 155 people. National Coal sells steam coal to electric utilities and industrial companies in the Southeastern United States. For more information and to sign-up for instant news alerts visit www.nationalcoal.com.

Information About Forward Looking Statements

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