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NEW YORK, NY, April 12, 2007 — Boart Longyear Group announced that it has completed its Australian initial public offering for A$2.75 billion, which was Australia’s largest IPO in nine years. The final price of shares was A$1.85. Boart Longyear expects normal trading of its shares to commence on April 16, 2007. Covington & Burling LLP advised the management team of Boart Longyear on employment and equity arrangements in connection with the IPO. Boart Longyear is the world’s leading integrated drilling services provider and products manufacturer for the global mining industry. The Covington corporate team was led by partner Carolyn Taylor. The New York and Washington based team also included partner Scott Smith and associates Maja Baumann, Sean McAuliffe, and Noa Rosenberg (corporate), partner Robert Newman and associate Kendra Roberson (benefits), and associate Robert Heller (tax).