Arch Coal, Inc., Western Pocahontas Properties Limited Partnership and Others Announce the Filing of a Registration Statement for Natural Resource Partners L.P.
St. Louis/Houston – April 19, 2002 - Three affiliated private companies, Western Pocahontas Properties Limited Partnership, Great Northern Properties Limited Partnership and New Gauley Coal Corporation (collectively, the “WPP Group”) and Arch Coal, Inc. (NYSE: ACI), announced today the filing of a registration statement on Form S-1 with the Securities and Exchange Commission (“SEC”) relating to a proposed underwritten initial public offering of common units representing limited partner interests in Natural Resource Partners L.P. Of the total 4,500,000 common units registered (exclusive of the underwriters’ overallotment option), 2,598,750 units are being registered for sale by Natural Resource Partners with the remaining 1,901,250 units being registered for sale by Arch Coal.
Natural Resource Partners, a Delaware limited partnership, was formed by Arch Coal and the WPP Group to engage principally in the business of owning and managing coal royalty properties in the three major coal-producing regions of the United States: Appalachia, the Illinois Basin and the Western United States.
Salomon Smith Barney and Lehman Brothers will be acting as Joint Lead Managers of the offering of the common units which will be made only by means of a prospectus. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, when available, may be obtained from:
Brooklyn Army Terminal
140 58th Street
Brooklyn, New York 11220
Attn: Prospectus Department
telephone (718) 765-6732
facsimile (718) 765-6734
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 Coal provides the fuel for approximately 6% of the electricity generated in the United States.
The privately-held WPP Group is primarily engaged in owning and managing mineral properties and is the largest owner of coal reserves in the United States other than the U.S. government.
A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.