St. Louis - February 22, 2001 - The board of directors of Arch Coal, Inc. (NYSE:ACI) today declared a quarterly dividend of 5.75 cents per share on the company's common stock. The dividend is payable March 15, 2001, to shareholders of record on March 5, 2001.

The Arch Coal board also set the date for the company's annual shareholders meeting, which will take place at the company's corporate headquarters in St. Louis on April 26, 2001. Shareholders of record on March 12, 2001, will be eligible to vote.

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