Exhibit 99


Arch Coal Comments on Ashland's Decision to Explore
Strategic Alternatives for Its Investment

ST.  LOUIS,  Missouri  -- Ashland  Inc.,  which owns 58% of Arch  Coal's  shares
outstanding,  announced today that it was exploring  strategic  alternatives for
its investment in Arch.  Ashland's decision has no immediate impact on Arch Coal
or its operations.

     "We fully support  Ashland's  decision to investigate  options for creating
additional  long-term value for the shareholders of both companies," said Steven
F. Leer, Arch Coal's president and chief executive officer. "Likewise, Arch Coal
remains focused on maximizing value for all its  shareholders.  Toward that end,
we will continue to concentrate on our principal  financial  objectives:  paying
down  debt,   boosting  earnings,   further  increasing  cash  flow,   improving
productivity and reviewing the sale of non-strategic assets."

     "In the past  two  years,  Arch  Coal has  dramatically  expanded  both its
low-sulfur  reserve position and its production of low-cost,  compliance coal, "
Leer said. "We believe these moves have placed Arch in an excellent  position to
capitalize on the changes that are occurring in the U.S. coal market,  including
the growing demand for electricity,  the  deregulation of the utility  industry,
and the shift to low-sulfur coal."

     This press release contains  forward-looking  statements within the meaning
of the Private Securities  Litigation Reform Act of 1995,  including Arch Coal's
expectations  with  respect  to  value  creation  and  the  company's   relative
competitive  position.  Although  Arch  Coal,  Inc.  believes  the  expectations
reflected  in  such   forward-looking   statements   are  based  on   reasonable
assumptions,  it can give no assurance that its  expectations  will be attained.
Factors that could cause actual results to differ  materially from  expectations
include  changes in local or  national  economic  conditions;  changes in mining
rates and costs for a variety of operational,  geologic,  permitting,  labor and
weather-related  reasons,  including  equipment  availability;  and other  risks
detailed  from time to time in the company's  reports filed with the  Securities
and Exchange  Commission,  including  quarterly reports on Form 10-Q, reports on
Form 8-K, and annual reports on Form 10-K.

     Arch Coal is the nation's  second  largest coal producer,  with  subsidiary
operations in West Virginia, Kentucky, Virginia, Illinois, Wyoming, Colorado and
Utah. Through these operations, Arch Coal provides the fuel for approximately 6%
of the electricity generated in the United States.