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ASHLAND COAL: EQUIPMENT SALE-LEASEBACK TRANSACTION CLOSES

 HUNTINGTON, W.Va., Feb. 5 /PRNewswire/ -- Ashland Coal, Inc. (NYSE: ACI) announced today that the sale-leaseback of approximately $64 million of equipment, referred to in Ashland Coal's Jan. 25, 1993, quarterly earnings release, was recently finalized.
 The proceeds from the sale-leaseback transaction were used to reduce Ashland Coal's debt, giving Ashland Coal added liquidity under its revolving credit agreement with little impact on its financial results.
 Ashland Coal, Inc. is engaged in the mining, processing and sale of low-sulfur coal, and markets its coal principally to electric utilities in the eastern United States and into the export markets.
 -0- 2/5/93
 /CONTACT: David G. Todd of Ashland Coal, 304-526-3755/
 (ACI)


CO: Ashland Coal, Inc. ST: West Virginia IN: MNG SU:

CD-CC -- PG014 -- 3654 02/05/93 15:55 EST
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Publication:PR Newswire
Date:Feb 5, 1993
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