CEY`s Appendix 3B - Issue of Unlisted Options to ANZ

Document date:  Thu 25 Jan 2001
Published:  Thu 25 Jan 2001 18:07:41
Document No:  227395
Document part:  A
Market Flag:  N
Classification:  Appendix 3B 

CENTENNIAL COAL COMPANY LIMITED               2001-01-25  ASX-SIGNAL-G

HOMEX - Sydney                                                        

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                             APPENDIX 3B
                        NEW ISSUE ANNOUNCEMENT

   APPLICATION FOR QUOTATION OF ADDITIONAL SECURITIES AND AGREEMENT

Information or documents not available now must be given to ASX as
soon as available.  Information and documents given to ASX become
ASX's property and may be made public.

Introduced 1/7/96. Origin Appendix 5. Amended 1/7/98, 1/9/99,
1/7/2000.

Name of Entity
Centennial Coal Company Limited

ACN or ARBN
003 714 538

We (the entity) give ASX the following information.


PART 1 - ALL ISSUES
You must complete the relevant sections (attach sheets if
there is not enough space).


1. Class of securities issued          Options to acquire ordinary
   or to be issued                     shares
 
2. Number of securities issued         2,000,000
   or to be issued (if known)                                       
   or maximum number which                                          
   may be issued                                                    

3. Principal terms of the securities   Exercise price = 72.5 cents
   (eg, if options, exercise price     Exercise period - 30/06/2001
   and expiry date; if partly paid     to 22/01/2003
   securities, the amount                                           
   outstanding and due dates for                                    
   payment; if convertible securities,                              
   the conversion price and dates                                   
   for conversion)                                                  

4. Do the securities rank equally      When issued, shares will rank
   in all respects from the date       pari passu in all respects
   of allotment with an existing       with the company's ordinary
   class of quoted securities          shares

   If the additional securities         
   do not rank equally, please                                      
   state:                                                           
   * the date from which they do                                    
   * the extent to which they                                       
     participate for the next                                       
     dividend, (in the case of                                      
     a trust, distribution) or                                      
     interest payment                                               
   * the extent to which they do                                    
     not rank equally, other than                                   
     in relation to the next                                        
     dividend, distribution or                                      
     interest payment                                               

5. Issue price or consideration        Provision of debt facilities

6. Purpose of the issue (if            Provision of debt facilitites
   issued as consideration for         Enabling the group to secure
   the acquisition of assets,          its interest in the Springvale
   clearly identify those              Mine
   assets)                                                          

7. Dates of entering securities        25/01/2001
   into uncertified holdings                                        
   or despatch of certificates                                      
                                       
                                      NUMBER  CLASS
8. Number and class of all        40,224,684  Ordinary
   securities quoted on                                             
   ASX (including the                                               
   securities in clause                                             
   2 if applicable)                                                 

                                      NUMBER  CLASS
9. Number and class of all           380,000  27/01/2001
   securities not quoted             282,500  10/12/2002
   on ASX (including the             495,000  08/03/2004
   securities in clause 2          1,750,000  07/12/2004
   if applicable)                    250,000  22/12/2005
                                   2,000,000  22/01/2003

10.Dividend policy (in the case        When shares issued, will rank
   of a trust, distribution            pari passu.
   policy) on the increased                                         
   capital (interests)                                              

PART 2 - BONUS ISSUE OR PRO RATA ISSUE

Items 11 to 33 are Not Applicable

PART 3 - QUOTATION OF SECURITIES
You need only complete this section if you are applying for quotation
of securities

    Items 34 to 37 are Not Applicable

    Entities that have Ticked Box 34 (b)

    Items 38 to 42 are Not Applicable

ALL ENTITIES

Fees

43. Payment method (tick one)

       Cheque attached

       Electronic payment made
       Note: Payment may be made electronically if Appendix 3B is 
             given to ASX electronically at the same time.
    
       Periodic payment as agreed with the home branch has been 
       arranged
       Note: Arrangements can be made for employee incentive 
             schemes that involve frequent issues of securities.

QUOTATION AGREEMENT

1.  Quotation of our additional securities is in ASX's absolute 
    discretion. ASX may quote the securities on any conditions it 
    decides.

2.  We warrant to ASX that the issue of the securities to be quoted
    complies with the law and is not for an illegal purpose, and that
    there is no reason why those securities should not be granted
    quotation. We warrant to ASX that an offer of the securities for
    sale within 12 months after their issue will not require
    disclosure under section 707(3) of the Corporations Law.

3.  We will indemnify ASX to the fullest extent permitted by law in
    respect of any claim, action or expense arising from or connected
    with any breach of the warranties in this agreement.

4.  We give ASX the information and documents required by this form.
    If any information or document not available now, will give it to
    ASX before quotation of the securities begins. We acknowledge that
    ASX is relying on the information and documents. We warrant that
    they are (will be) true and complete.


T Marcko 
COMPANY SECRETARY
25/01/2001