Exhibit 99.1

Massey Energy Completes $130 Million Asset-Based Credit Facility
Wednesday January 21, 4:30 pm ET

RICHMOND, Va., Jan. 21 -- Massey Energy Company (NYSE: MEE - News) today
reported that it has entered into a new asset-based revolving credit facility,
which provides for borrowings of up to $130 million, depending on the level of
eligible inventory and accounts receivable. The facility replaces the Company's
existing undrawn $80 million accounts receivable-based financing program. The
new facility includes a $100 million sublimit for letters of credit. Initially,
this facility will support $36 million of letters of credit previously supported
by cash collateral. This new facility will provide the Company with increased
liquidity and letter of credit capacity. The credit facility has a five-year
term ending in January 2009.

This credit facility represents the completion of the Company's restructuring of
its balance sheet, which began with the issuance of $132 million of 4.75%
Convertible Senior Notes in May 2003 and a private offering of $360 million of
6.625% Senior Notes in November 2003.

Massey Energy Company, headquartered in Richmond, Virginia, is the fourth
largest coal company in the United States based on produced coal revenue.

FORWARD-LOOKING STATEMENTS: The foregoing release contains forward-looking
statements. Such forward-looking statements reflect current analysis of existing
information. Caution must be exercised in relying on forward-looking statements.
No assurance can be given that the proposed offering can be completed on
acceptable terms. Additional information concerning factors that could cause
actual results to differ materially from those in the forward- looking
statements can be found in press releases as well as Massey's public filings
with the Securities and Exchange Commission, including the Company's Annual
Report on Form 10-K (as amended by Form 10-K/A for the year ended December 31,
2002) and its subsequently filed interim reports. Such filings are available
either publicly, under the Investor Relations page of Massey's website,
www.masseyenergyco.com, or upon request from Massey's Investor Relations
Department: (866) 814-6512. Massey disclaims any intent or obligation to update
its forward-looking statements. For further information, please contact:
Investor Relations, Katharine W. Kenny, (804) 788-1824, of Massey or e-mail the
Company.