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THE BEARD COMPANY                                           News Release
  Enterprise Plaza, Suite 320
     5600 North May Avenue                             Herb Mee, Jr., President
 Oklahoma City, Oklahoma 73112
  (405) 842-2333 OTCBB: BRCO


                                THE BEARD COMPANY
                         ISSUES UPDATED STATUS REPORT ON
                             McELMO DOME SETTLEMENT

FOR IMMEDIATE RELEASE:  Wednesday, March 26, 2003

     Oklahoma City,  Oklahoma --- The Beard Company  (OTCBB:BRCO) today reported
that on March 24,  2003,  the 11  parties  who had  previously  objected  to the
Settlement  filed a Petition for Certiorari with the U.S. Supreme Court. We have
been advised by Plaintiffs' counsel that they intend to file a brief response to
the Petition.  Once this has been filed and circulated,  we are advised that the
vast  majority of petitions  are ruled upon within  three to 12 weeks,  and that
most petitions are disposed of within 2-1/2 weeks.

     If the U.S.  Supreme Court denies the Petition,  the Settlement is expected
to be  final  between  early  May  and  late  June of  2003,  meaning  that  the
distribution  of Settlement  funds can begin at that time according to the terms
of the Settlement Agreement. Although it is possible that the Court could decide
to hear the case and could  overturn the  Settlement,  our counsel  believe that
such possibility is remote.  The U.S. Supreme Court takes very few cases and our
counsel  think it is  unlikely  that the Court  would have any  interest in this
case.

     Herb Mee,  Jr.,  President of the  Company,  stated:  "Distribution  of the
proceeds  will be delayed until the petition to the U. S. Supreme Court has been
decided.  The Company  believes the Settlement will be concluded within the time
frame indicated above with anticipated proceeds to the Company in excess of $3.9
million including interest."

     The Beard Company's  common stock is traded on the OTC Bulletin Board under
the  symbol:  BRCO.  Its  operations  consist  principally  of coal  reclamation
activities,  carbon dioxide (CO2) gas production, the construction of composting
plants in China,  and its e-commerce  activities  related to the  development of
starpay(TM)'s patent-pending payment system for use on the Internet.

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Fax Number (405) 842-9901                               Email:  hmee@beardco.com