Thank you for your interest in Massey Energy Company. Massey is the fourth largest producer of coal in the United States by revenue and the largest producer of high-quality, low sulfur coal in Central Appalachia. We serve over 125 steel, utility and industrial customers throughout the Eastern U.S. and Canada via 19 modern mining complexes in West Virginia, Kentucky and Virginia.

In 2003, Massey shipped 41 million tons of coal and recorded total revenues of over $1.6 billion. Our estimated reserve base exceeds 2.2 billion tons, nearly 1/3 of total Central Appalachian reserves. At current production levels, our reserves represent over 50 years of supply.

Massey’s strategy for continued improvement is exemplified by three major management initiatives: S-1 prescribes safety measures that go far beyond industry standards; P-2 focuses on the application of best practices to continually strive for better productivity; and M-3 is designed to continuously measure actual performance and report to management in a timely manner.

Massey's success made possible capital investments of over $1.6 billion between 1997 and 2003. These investments in reserves, new mines and preparation plants, state-of-the-art technology and equipment, and upgrades of existing facilities help keep our team, our products and our prices competitive. Our cost reduction and productivity programs are in place and yielding results. These enhancements, together with our solid financial condition, position us for improved profitability and a bright long-term future.

We thank all of our stakeholders and friends for their continued support.