Firm’s IPO Unrelated to Energy Task Force

Re “Bright Light Must Shine on Energy Policymaking,” Opinion, Dec. 21:

Peabody’s public offering had nothing to do with the Bush administration’s energy task force, and the company was not aware of the timing or content of the report. The public offering was anticipated in May 1998 and was in full preparation during the Clinton-Gore administration.

And the offering was well received in May 2001 (as were secondary offerings in April 2002, May 2003 and July 2003) because: (1) Peabody is the world’s largest coal company and has strong financial fundamentals; (2) coal is America’s most abundant energy resource at a time when energy independence is vital; and (3) years of energy policy neglect by the Clinton-Gore administration created an energy crisis.

Vic Svec

Vice Pres., Public and

Investor Relations

Peabody Energy

St. Louis