TRC’s offer is subject to conditions, including a share price that reflects a 4.85% discount to Arch’s closing price on 18 October 2011, the day prior to the offer.

Arch said it does not endorse TRC’s offer and recommends shareholders not to tender their shares in response to the offer because it is a mini-tender offer at a price below the current market price for Arch shares and is subject to numerous conditions.

The company urges shareholders considering TRC’s offer to obtain current market quotations for their shares, review the conditions to the offer and exercise caution with respect to TRC’s offer.