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TIMOTHY S. BORDEN <br />1153 Rrswt Dritt <br />P.O. Bar 773457 <br />SuamGoal SprinBa, CO 80477 <br />(970) 879-7310 <br />July 31, 1995 <br />Board of Directors <br />Kerr Coal Company <br />Denver Place Plaza Tower, Suite 2260 <br />1099 Eighteenth Street <br />Denver, Colorado 80202 <br />Dear Sirs: <br />4700 E Sf~pi Arocm <br />snit rlos <br />Drnrtr, CO 80121 <br />(303) 759.3500 x200 <br />This shall serve as notice of my resignation as an officer and director, effective July 31, <br />1995, of Kerr Coal Company. <br />Very truly your, <br />~~ <br />Timothy S rden <br />rsan~ <br /> <br />