Press Releases

Peabody Energy has announced the re-election of four members of its board of directors, for three-year terms expiring in 2006, at the company's annual meeting of shareholders held in St. Louis.

Re-elected directors include William E. James, founding partner of RockPort Capital Partners LLC; Robert B. Karn III, a consultant and former managing partner in financial and economic consulting with Arthur Andersen in St. Louis; Henry E. Lentz, a consultant and former managing director of Lehman Brothers; and Dr. Blanche M. Touhill, chancellor emeritus and professor emeritus at the University of Missouri - St. Louis.

Peabody Energy is the world's largest private-sector coal company, with 2002 sales of 198 million tons of coal and $2.7 billion in revenues. Its coal products fuel more than 9 percent of all U.S. electricity generation and more than 2 percent of worldwide electricity generation.

                    PEABODY ENERGY BOARD OF DIRECTORS

  Bernard J. Duroc-Danner is Chairman, President and Chief Executive Officer
  of Weatherford International, Inc., one of the world's largest oilfield
  services companies.  Mr. Duroc-Danner served as President and Chief
  Executive Officer of EVI, Inc. prior to its merger with Weatherford
  Enterra, and held previous positions with Mobil Corporation and Arthur D.
  Little, Inc.  He holds a Ph.D. in economics from the Wharton School of
  Business at the University of Pennsylvania.  He also serves as Chairman of
  the Board of Grant Prideco, Inc., and is a Director of Cal Dive
  International, Parker Drilling, Dresser and Universal Compression.

  Irl F. Engelhardt is Chairman and Chief Executive Officer of Peabody
  Energy. He joined the company in 1979 after a decade of management
  consulting experience and held various officer-level positions prior to
  being named Chief Executive Officer in December 1990.  His business
  experience includes: Group Executive and Director of Hanson Industries;
  Co-Chief Executive Officer of The Energy Group; Chairman of Cornerstone
  Construction and Materials; Chairman of Suburban Propane; Chairman of
  Citizens Power; and Chairman of Peabody Resources Limited (Australia).  He
  received a bachelor of science degree in accounting from the University of
  Illinois and a master's in business administration from Southern Illinois
  University.  Among a number of industry leadership positions, he is Vice-
  Chairman of the Center for Energy and Economic Development, and the
  National Mining Association's Sustainable Development Committee and Health
  Reform Committee.  He is co-Chairman of the Coal Based Generation
  Stakeholders Group.  He is also a member of the Conservation Fund's
  Corporate Council and The Business Roundtable.  Mr. Engelhardt is also a
  Director of U.S. Bank N.A. in St. Louis and serves on the board of a
  number of civic organizations.

  Roger H. Goodspeed is a consultant to Lehman Brothers Inc.  He joined
  Lehman Brothers in 1974 and became a Managing Director in 1984.  During
  his tenure at Lehman Brothers he has had management responsibility for
  several Investment Banking groups and has served as a member of the
  Operating Committee of the Investment Banking Division.  In 1994, he
  became Chairman of Citizens Lehman Power, a power marketing joint venture
  which was 50 percent owned by Lehman Brothers, and served in that position
  until 1997 when the joint venture was sold to The Energy Group and re-
  named Citizens Power.  Mr. Goodspeed received an MBA from the University
  of California, Los Angeles.

  William E. James is a Founding Partner of RockPort Capital Partners LLC, a
  venture fund specializing in energy and environmental technology and
  advanced materials.  He is also Chairman of RockPort Group, an
  international oil trading and investment banking company.  Prior to
  joining RockPort, Mr. James co-founded and served as Chairman and Chief
  Executive Officer of Citizens Power LLC, a leading power marketer.
  Previously, Mr. James was a co-founder of the non-profit Citizens Energy
  Corporation and served as Chairman and Chief Executive Officer of Citizens
  Corporation, its for-profit subsidiary, from 1987 to 1996.  Mr. James
  holds a bachelor of arts degree from Colorado College.  He serves on the
  board of directors of the African Wildlife Foundation, the National Peace
  Corps Association's Advisory Council and the Cape Ann Historical
  Association.

  Robert B. Karn III is a financial consultant and former managing partner
  in financial and economic consulting with Arthur Andersen in St. Louis.
  Before retiring from Andersen five years ago, Mr. Karn served in a variety
  of accounting, audit and financial roles over a 33-year career, including
  Managing Partner in charge of the global coal mining practice from 1981
  through 1998.  He is a Certified Public Accountant and Panel Arbitrator
  with the American Arbitration Association, and has led a number of civic
  organizations.  Mr. Karn serves on the board of directors of Natural
  Resource Partners, a coal-oriented master limited partnership that trades
  on the New York Stock Exchange.

  Henry E. Lentz is a consultant to Lehman Brothers Inc.  He joined Lehman
  Brothers in 1971 and became a Managing Director in 1976.  In 1988, Mr.
  Lentz left Lehman Brothers to serve as Vice Chairman of Wasserstein
  Perella Group, Inc.  In 1993, he returned to Lehman as a Managing Director
  and served as head of the firm's worldwide energy practice.  In 1996, he
  joined the Merchant Banking Group as a Principal and in 2003 became a
  consultant to the Merchant Banking Group.  Mr. Lentz is currently a
  director of Rowan Companies, Inc. and Consort Holdings plc.  Mr. Lentz
  holds an MBA from the Wharton School of Business at the University of
  Pennsylvania.

  William C. Rusnack is the former President and Chief Executive Officer of
  Premcor Inc.  Prior to joining Premcor in April 1998, Mr. Rusnack was
  President of ARCO Products Company, the refining and marketing division of
  Atlantic Richfield Company.  During his 31-year career at ARCO, he was
  also President of ARCO Transportation Company and Vice President of
  Corporate Planning.  Mr. Rusnack is a member of the American Petroleum
  Institute as well as a member of the Dean's Advisory Council of the
  Graduate School of Business at the University of Chicago and the National
  Council of the Olin School of Business at Washington University in St.
  Louis.  He serves on a number of civic and corporate boards including
  Sempra Energy, The Urban League of Metropolitan St. Louis, the St. Louis
  Science Center and the St. Louis Opera Theatre.  He holds a bachelor of
  science in general chemistry from Indiana University of Pennsylvania and
  an MBA from the University of Chicago.

  Dr. James R. Schlesinger is Chairman of the Board of Trustees of the MITRE
  Corporation.  He also serves as Counselor to the Center for Strategic and
  International Studies.  Dr. Schlesinger served as Secretary of Energy from
  1977 to 1979.  He held senior executive positions for three U.S.
  Presidents, serving as Chairman of the U.S. Atomic Energy Commission from
  1971 to 1973, Director of the Central Intelligence Agency in 1973 and
  Secretary of Defense from 1973 to 1975.  Prior positions include Assistant
  Director of the Office of Management and Budget, Director of Strategic
  Studies at the Rand Corporation, Associate Professor of Economics at the
  University of Virginia and Board of Governors of the Federal Reserve
  System.  Dr. Schlesinger holds bachelor of arts, master's and doctoral
  degrees from Harvard University.  He is a trustee at the Atlantic Council,
  Center for Global Energy Studies; a fellow of the National Academy of
  Public Administration; and a member of the American Academy of Diplomacy.

  Dr. Blanche M. Touhill is Chancellor Emeritus and Professor Emeritus at
  the University of Missouri - St. Louis.  Dr. Touhill began her career in
  education at Queens College, City University of New York, before joining
  UMSL as an assistant professor.  Dr. Touhill was named Vice Chancellor for
  Academic Affairs in 1987 and assumed the responsibilities of Interim
  Chancellor in 1990.  She was named Chancellor in 1991.  Dr. Touhill holds
  bachelor's and doctoral degrees in history and a master's degree in
  geography from St. Louis University.  Dr. Touhill has served on a number
  of civic and corporate boards, including Trans World Airlines, Delta
  Dental, the Urban League of St. Louis, Civic Progress and the Missouri
  Botanical Gardens.  In 1997, she was named the St. Louis Citizen of the
  Year.

  Sandra Van Trease is President of UNICARE, one of the fastest-growing
  segments of Wellpoint Health Networks, Inc.  Wellpoint is a large health
  insurance company, based in California, which last year purchased
  RightCHOICE Managed Care, Inc.  Ms. Van Trease held the positions of
  President and Chief Operating Officer and previously Executive Vice
  President and Chief Financial Officer of RightCHOICE.  Prior to joining
  RightCHOICE in 1994, she was a Senior Audit Manager with Price Waterhouse.
  She is a Certified Public Accountant and Certified Management Accountant.
  Ms. Van Trease serves on the boards of a number of civic organizations in
  the St. Louis area and on U.S. Bancorp's St. Louis board of directors.

  Alan H. Washkowitz is a Managing Director of Lehman Brothers Inc. and the
  head of the firm's Merchant Banking Group, responsible for the oversight
  of Lehman Brothers Merchant Banking Partners II L.P.  Mr. Washkowitz
  joined Kohn Loeb & Co. in 1968 and became a general partner of Lehman
  Brothers in 1978 when Kohn Loeb & Co. was acquired.  Prior to joining the
  Merchant Banking Group, Mr. Washkowitz headed Lehman Brothers' Financial
  Restructuring Group.  He is currently a director of CP Kelco Inc., L-3
  Communications Corporation and K&F Industries, Inc.  Mr. Washkowitz holds
  an MBA from Harvard University and a Juris Doctorate from Columbia
  University.

  CONTACT:  Vic Svec of Peabody Energy, +1-314-342-7768

SOURCE: Peabody Energy