For the 2-charge extremal holes in string theory we show that the Bekenstein
entropy obtained from the area of the stretched horizon has a statistical
interpretation as a `coarse graining entropy': different microstates give
geometries that differ near r=0 and the stretched horizon cuts off the metric
at r=b where these geometries start to differ.Comment: 4 pages, 3 figures, Revtex; comment added in the discussio