March 14, 2013 at 21:54 PM EDT
Statement Of Peabody Energy (NYSE: BTU) Regarding Patriot Coal Claim

ST. LOUIS, March 14, 2013 /PRNewswire/ --Our contract with Patriot Coal states that we will fund a portion of Patriot's retiree healthcare expenses for specified retirees. We have been providing funds under this contract since the spinoff.

This contract also appropriately states that, should Patriot's benefit obligations decrease, our funding would proportionately be reduced. Patriot is taking the untenable position that our payments should continue in full in the future even if Patriot's expenses are reduced.

Such a claim is not only unreasonable, but counter to the fundamental basis of the language in the contract. These are Patriot's obligations and, to the extent they are reduced, we will meet our agreement with Patriot to fund the new lower levels.

CONTACT:
Vic Svec
(314) 342-7768

SOURCE Peabody Energy

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here