X0202 4 2006-01-25 0 0001297720 James River Coal CO JRCC 0001295984 Pirate Capital LLC 200 CONNECTICUT AVENUE 4TH FLOOR NORWALK CT 06854 0 0 1 0 0001333606 Hudson Thomas R Jr 200 CONNECTICUT AVE 4TH FLOOR NORWALK CT 06854 0 0 1 0 Call Option (right to buy) Put Option (obligation to buy) 33.31 2006-01-25 4 J 0 1000 7.11 A 2006-01-25 2006-04-25 Common Stock 100000 1000 I See footnote Call Option (right to buy) Put Option (obligation to buy) 33.17 2006-01-26 4 J 0 1000 6.65 A 2006-01-26 2006-04-26 Common Stock 100000 1000 I See footnote The holders of these securities entered into an agreement pursuant to which they granted a put option and acquired a call option with respect to the same shares. The securities beneficially owned by the Reporting Persons are held directly by Jolly Roger Fund LP, a limited partnership for which Pirate Capital LLC ("Pirate") serves as general partner and Jolly Roger Offshore Fund LTD, Jolly Roger Activist Portfolio Company LTD and Mint Master Fund LTD, each an entity for which Pirate serves as investment advisor (collectively, the "Funds"). Pirate is deemed to be the indirect beneficial owner of the securities due to its position as general partner or investment advisor, as applicable, of the Funds, and its pecuniary interest in such shares is a fractional interest in such amount. Thomas R. Hudson, Jr., as the sole managing member of Pirate is also deemed to be the indirect beneficial owner of such securities. The Reporting Persons disclaim beneficial ownership of any and all such amounts in excess of such actual pecuniary interest. /s/ Pirate Capital LLC, by Thomas R. Hudson Jr. its Portfolio Manager 2006-01-27 /s/ Thomas R. Hudson Jr. 2006-01-27