Exhibit 99.1




Walter Energy, Inc.

P.O. Box 20608

Tampa, Florida 33622-0608





Press Release

February 3, 2010





Investor Contact: Mark H. Tubb


Vice President - Investor Relations






Media Contact: Michael A. Monahan


Director - Corporate Communications








Company Reports Fourth Quarter 2009 Earnings from Continuing Operations of $0.62 Per Diluted Share;
Full-Year Earnings from Continuing Operations of $2.64 Per Diluted Share


Record Sales Volumes Expected in 2010 on Incremental Longwall Tons and Strong Demand for Premium
Hard Coking Coal


Company Settles Remaining 2008-2009 Carryover Tons; Expects to Deliver Approximately 1.3 Million
Short Tons by April 2011 at Prices in Excess of $315 Per Metric Ton FOB Port


(TAMPA, Fla.) - Walter Energy (NYSE: WLT), a leading U.S. producer and exporter of premium hard coking coal for the global steel industry, today reported income from continuing operations of $33.3 million, or $0.62 per diluted share, for the quarter ended Dec. 31, 2009, compared to $97.0 million, or $1.77 per diluted share in the fourth quarter 2008.


“Our premium hard coking coal business demonstrated its resilience last year, as we produced and sold more of our Blue Creek coal in 2009 than in 2008, despite historic lows in global steel capacity utilization,” said Walter Energy Chief Executive Officer Victor P. Patrick. “As we look to 2010, we see significant upside potential as we expect to increase sales to record levels and to achieve record average realized pricing.”


Fourth Quarter 2009 Financial Results


Net sales and revenues for the fourth quarter 2009 totaled $236.3 million compared to $365.5 million in the prior-year period. Operating income totaled $36.9 million for the quarter, down $91.1 million versus the prior-year period. Revenues were impacted by lower coking coal and metallurgical coke pricing and sales volumes. Lower coking coal pricing contributed to 43 percent of the decrease in revenues, while lower coking coal volumes caused 44 percent of the decrease. In addition, approximately 61 percent of the decline in operating income resulted from lower coking coal pricing, with the remainder primarily due to a decrease in coking coal volumes.


Fourth quarter 2009 results from continuing operations include pre-tax charges of $4.5 million associated with the closure of Walter Coke’s fiber plant, completing the last transaction in the disposition of the Company’s non-energy businesses. Results for the quarter also included favorable tax benefits of $9.7 million related to non-taxable Medicare Part D subsidies and the favorable effect of a state tax rate change. Results


The following information was filed by Walter Energy, Inc. (WLTGQ) on Thursday, February 4, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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