GRUNDY, VA (June 24, 2008) -- CONSOL Energy Inc. (NYSE:CNX) and CNX Gas Corporation (NYSE:CXG), along with The University of Appalachia College of Pharmacy jointly announced today a $500,000 gift to the college. The gift, to be provided equally by CONSOL Energy and CNX Gas, will be applied toward the cost of a second building now under construction on the college’s Garden campus in Buchanan County, Va.
“We recognize the value of the school to Buchanan County and the support it enjoys from local residents and government officials in the county,” said J. Brett Harvey, CONSOL Energy president and chief executive officer. “Energy production is an important part of Buchanan County’s economic profile, including the Buchanan Mine, which is the second largest employer in Buchanan County. However, we felt a substantial commitment to the pharmacy school construction project would help the county to diversify its economic base.”
“CNX Gas is committed to the success and the future of Buchanan County,” said CNX Gas President and Chief Executive Officer, Nicholas J. DeIuliis. “We visited the pharmacy school last fall and we were impressed with what we saw — both the commitment of the people involved and the impact of the college on the community. The new building seemed an obvious way to support the school as it builds for the future.”
UACP, which just recently graduated its charter class of students, offers Virginia’s only accelerated doctor of pharmacy program, allowing students to earn their Doctor of Pharmacy degrees in three years. The college opened its doors in 2005 and now has 192 students. The new building will contain faculty and administrative offices, two classrooms and a model pharmacy.
Mickey McGlothlin, a member of the University of Appalachia College of Pharmacy board of trustees and chairman of the school’s building committee, recognized the generosity of both companies.
“I sincerely appreciate the donation from CNX Gas and CONSOL Energy to the University of Appalachia College of Pharmacy,” McGlothlin said. “It will significantly assist the pharmacy school in its efforts to provide our students with an education second to none and to enhance healthcare in our region. This contribution by CNX Gas and CONSOL Energy, along with CONSOL Energy’s recent announcement that the Buchanan Mine will treat its mine water by reverse osmosis are very positive indications that CNX Gas and CONSOL Energy are working with our region to balance community and environmental needs with energy production.”
Frank Kilgore, founding chairman of the University of Appalachia, also expressed his appreciation for CONSOL Energy’s and CNX Gas’ support of higher education and job creation in Buchanan County and the surrounding area.
“This donation will go a long way toward building our new addition to our Garden Campus,” Kilgore said. “How appropriate this is since just up Garden Creek sits the Buchanan Mine, the largest deep mine in Virginia.”
Kilgore also acknowledged the role that Terry Kilgore, dean of institutional advancement for the university, played in the announcement, having worked with CONSOL Energy and CNX Gas on the planning for the contribution.
Terry Kilgore also recognized CONSOL Energy and CNX Gas for their generosity. “This is the type of corporate citizenship Virginia often seeks, but too rarely finds,” Terry Kilgore said. “Buchanan County has been blessed with benefactors that have done well here and who have not forgotten the people of the county. We appreciate CONSOL Energy and CNX Gas and the community improvements that come with good corporate citizenship.”
Both CONSOL Energy and CNX Gas have substantial investments in energy production facilities in Buchanan County. In 2007, the two companies and their subsidiaries had more than 650 employees in southwest Virginia with an aggregate payroll of $50 million.
A formal presentation of the contribution will be celebrated at a date to be announced later this summer.
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CONSOL Energy Inc., a high-Btu bituminous coal and coal bed methane company, is a member of the Standard & Poor's 500 Equity Index and has annual revenues of $3.8 billion. It has 17 bituminous coal mining complexes in six states and reports proven and probable coal reserves of 4.5 billion tons. CONSOL Energy was named one of America's most admired companies in 2005 by Fortune magazine. It received the U.S. Department of the Interior's Office of Surface Mining National Award for Excellence in Surface Mining for the company's innovative reclamation practices in 2002, 2003 and 2004. Also in 2003, the company was listed in Information Week magazine's "Information Week 500" list for its information technology operations. In 2002, the company received a U.S. Environmental Protection Agency Climate Protection Award. Additional information about the company can be found at its web site: www.consolenergy.com. .
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CNX GAS CORPORATION is an independent natural gas exploration, development, production and gathering company operating in the Appalachian and Illinois basins of the United States. CNX Gas is the leading Appalachian gas producer and believes it is the number one capturer of methane in the energy industry. CNX Gas recently joined the Chicago Climate Exchange as an offset provider. CNX Gas was also named a semi-finalist by the Financial Times/Citi Private Bank in their first-ever Environmental Awards. In addition, Nicholas J. DeIuliis, President and Chief Executive Officer, received the Ernst & Young Entrepreneur of the Year® 2007 Award. CNX Gas has also been featured in such publications as Business Week, American Executive, Smart Business Pittsburgh, and the Pittsburgh Business Times.