St. Louis, MO - September 28, 1998 - The board of directors of Arch Coal, Inc. (NYSE:ACI) today declared a quarterly dividend of 11.5 cents per share on the company's common stock. The dividend is payable December 15, 1998, to shareholders of record on November 13, 1998.

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.