Walter Energy Announces New Name, Corporate Identity; Launches New Web Site

TAMPA, Fla., April 23  /PRNewswire-FirstCall/ -- Walter Energy, Inc. (NYSE: WLT), a leading producer and exporter of premium U.S. metallurgical coal for the global steel industry, was announced today as the new name for Walter Industries, Inc. at the Company's annual shareholder meeting in Tampa, Fla.

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  The Company also launched a new web site: http://www.walterenergy.com/.



"Now that our transformation into a 'pure play' natural resources and energy company is complete, our Board, with the support of our shareholders, decided to modify our name to better communicate the space in which we operate," said Walter Energy Chairman Michael T. Tokarz. "By its very nature, the term "Industries" implies operation in two or more industries and we are now squarely focused in the energy resources sector, led by our metallurgical coal business. We are excited to embark on this next chapter in our Company's history as a leading producer and exporter of U.S. metallurgical coal to the world's steel producers."

"All of our Companies will share a unified visual identity, which will help us communicate both internally and externally that, while we may operate separate businesses, we all work for one company and, ultimately, are accountable to the same shareholders," Tokarz said.

The new web site, http://www.walterenergy.com/ has areas designed for investors, media, potential employees, as well as other information about the Company and its subsidiaries. Visitors to the former corporate or subsidiary web sites will be redirected to the new address.

The Company also announced name changes for two of its subsidiaries. United Land, which encompasses the Company's surface mining operations will now operate as Walter Minerals. Sloss Industries and its metallurgical coke and mineral fiber Divisions will now operate as Walter Coke.

About Walter Energy

Walter Energy, based in Tampa, Fla., is a leading producer and exporter of premium U.S. metallurgical coal for the global steel industry and also produces steam coal and industrial coal, metallurgical coke and coal bed methane gas. The Company has revenues of approximately $1.2 billion and currently employs approximately 2,150 people. For more information about Walter Energy, please visit the new Company website at http://www.walterenergy.com/. 

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DATASOURCE: Walter Energy, Inc.



CONTACT:  Mark Tubb, Vice President - Investor Relations,

[phone], , Media, Michael A. Monahan, Director -

Corporate Communications, [phone], , both of

Walter Industries, Inc.



Web Site:  http://www.walterenergy.com/ 

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