Arch Coal Commences Tender Offer to Acquire ICG for $14.60 per Share

Arch Coal, Inc. ACI today announced that a wholly owned subsidiary of Arch, Atlas Acquisition Corp., has commenced the previously announced tender offer to acquire all of the outstanding shares of International Coal Group, Inc. ICO common stock for $14.60 per share in cash without interest. Arch and ICG announced on May 2, 2011 the signing of a definitive merger agreement pursuant to which Arch agreed to cause Merger Sub to commence the tender offer. The boards of directors of Arch and ICG each unanimously approved the terms of the merger agreement. The board of directors of ICG recommends that ICG stockholders tender their shares pursuant to the tender offer.