EXHIBIT 99.1
Natural Resource Partners L.P. 601 Jefferson St., Suite 3600, Houston, TX 77002 |
NEWS RELEASE
Natural Resource Partners L.P.
Closes Acquisition of Coal Assets from
Plum Creek Timber Company, Inc.
HOUSTON, March 3, 2005-Natural Resource Partners L.P. (NYSE: NRP)today announced it has closed its previously announced acquisition of coal reserves from Plum Creek Timber Company, Inc. The purchase price, as adjusted for anticipated production from the properties, was $21.25 million. The purchase was funded through a combination of NRP’s credit facility and $3.25 million in cash.
Natural Resource Partners L.P. is headquartered in Houston, TX, with its operations headquarters in Huntington, WV. NRP is a master limited partnership that is principally engaged in the business of owning and managing coal properties in the three major coal producing regions of the United States: Appalachia, the Illinois Basin and the Powder River Basin.
For additional information, please contact Kathy Hager at 713-751-7555 orkhager@nrplp.com. Further information about NRP is available on the partnership’s website athttp://www.nrplp.com.
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