Massey Energy Announces Concurrent Offerings of Common Stock and Convertible Senior...

Massey Energy Announces Concurrent Offerings of Common Stock and Convertible
Senior Notes Due 2015

RICHMOND, Va., Aug. 5 /PRNewswire-FirstCall/ -- Massey Energy Company
(NYSE: MEE) announced today that it intends to offer, subject to market and
other conditions, $250 million of its common stock in a registered
underwritten public offering. In connection with the common stock offering,
Massey intends to grant the underwriters an option to purchase up to an
additional $37.5 million of its common stock to cover overallotments, if any.
(Logo: http://www.newscom.com/cgi-bin/prnh/20071031/MASSEYENERGYLOGO )
Concurrently with the common stock offering, Massey also intends to offer,
subject to market and other conditions, $600 million aggregate principal
amount of convertible senior notes due 2015 in a registered underwritten
public offering. In connection with the convertible notes offering, Massey
intends to grant the underwriters an option to purchase up to an additional
$90 million in aggregate principal amount of convertible notes to cover
overallotments, if any. The convertible notes will be convertible under
certain circumstances and during certain periods into (i) cash, up to the
aggregate principal amount of the convertible notes subject to conversion and
(ii) cash, Massey's common stock or a combination thereof, at Massey's
election, in respect of the remainder (if any) of Massey's conversion
obligation. The interest rate, conversion rate, offering price and other
terms of the convertible notes will be determined by negotiations between the
underwriters and Massey.
The common stock offering and the convertible notes offering are being
conducted as separate public offerings and are not contingent upon each other.
Massey intends to use the proceeds of the offerings to fund the purchase of
its 6.625% senior notes due 2010 and for general corporate purposes.
UBS Investment Bank and J.P. Morgan Securities Inc. are acting as joint
book-running managers for both of the offerings.
The common stock offering and the convertible notes offering are being
made pursuant to a registration statement filed with the Securities and
Exchange Commission and available for review on the SEC's website at
www.sec.gov. This press release does 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. Any offer of the securities will be made only by means of a
prospectus, forming a part of the effective registration statement, the
applicable preliminary prospectus supplement and other related documents.
Copies of these documents can be obtained from UBS Investment Bank, Attn:
Prospectus Department, 299 Park Avenue, New York, NY 10171, at (888) 827-7275
(toll-free), extension 3884 or J.P. Morgan Securities Inc., National Statement
Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn,
NY 11245, (718) 242-8002.
Massey Energy Company, headquartered in Richmond, Virginia, with
operations in West Virginia, Kentucky and Virginia, is the fourth largest coal
producer by revenue in the United States and is included in the S&P 500 index.
FORWARD-LOOKING STATEMENTS: Statements in this press release relating to
future events and other disclosures and statements that are not historical
facts are forward-looking statements that involve risks and uncertainties.
Caution must be exercised in relying on these forward-looking statements as
actual results may differ materially from these forward-looking statements,
which are based on our then current expectations as a result of market
conditions, the actions by third parties, and many other factors. For a
discussion of such risks and uncertainties related to Massey, which could
cause actual results to differ from those contained in the forward-looking
statements, see Massey's earnings releases and see "Risk Factors" in Massey's
most recent Annual Report on Form 10-K and subsequently filed interim reports.
Such filings are available at Massey's website www.masseyenergyco.com or upon
request from Massey's Investor Relations Department at 866-814-6512. Massey
disclaims any intention or obligation to update any forward-looking statements
whether as a result of new information, future developments, or otherwise.
SOURCE Massey Energy Company

Phil Nichols, Treasurer of Massey Energy Company, +1-866-814-6512, Roger
Hendriksen, Director of Investor Relations, +1-866-814-6512