Release: FCX declares quarterly cash dividends on common and preferred stocks

NEW ORLEANS, LA, January 4, 2006 ? Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) today declares the following quarterly cash dividends payable on February 1, 2006 to holders of record as of January 17, 2006:

◦ $0.3125 per share of FCX?s Common Stock (NYSE: FCX).
◦ $13.75 per share of FCX?s 5?% Convertible Perpetual Preferred Stock.
◦ $0.41009 per depositary share (NYSE: FCX Pr C), representing FCX?s Gold-Denominated Preferred Stock, Series II.
◦ $0.04439 per depositary share (NYSE: FCX Pr D), representing FCX?s Silver-Denominated Preferred Stock.

As previously announced, on February 1, 2006, each depositary share of Gold-Denominated Preferred Stock, Series II, FCX Pr C (CUSIP 35671D881), will be redeemed for a cash amount equal to 0.10 times the arithmetic average of the London P.M. gold fixing price for an ounce of gold in the London bullion market on each of the 20 trading days ending on January 30, 2006. As a result, the dividend of $0.41009 per depositary share to be paid on February 1, 2006, will be the last dividend paid on FCX Pr C. (end of release)