Release: Freeport-McMoRan Copper & Gold Inc. declares quarterly cash dividend

NEW ORLEANS, Jul 1, 2004 -- Freeport-McMoRan Copper & Gold Inc. (FCX) today declared the following quarterly cash dividends payable on August 1, 2004 to holders of record as of July 15, 2004:

-- $0.20 per share of FCX's Common Stock (NYSE:FCX).
-- $13.75 per share of FCX's 5 1/2% Convertible Perpetual Preferred Stock.
-- $0.32425 per depositary share (NYSE:FCX Pr C), representing FCX's Gold-Denominated Preferred Stock, Series II.
-- $0.09062 per depositary share (NYSE:FCX Pr D), representing FCX's Silver-Denominated Preferred Stock.

FCX will also distribute on August 1, 2004 proceeds from the sixth mandatory partial redemption of FCX's Silver-Denominated Preferred Stock to holders of record as of July 15, 2004 of FCX's depositary shares (NYSE:FCX Pr D), representing its Silver-Denominated Preferred Stock. The distribution payment will be $2.9290 per depositary share.

FCX explores for, develops, mines and processes ore containing copper, gold and silver in Indonesia, and smelts and refines copper concentrates in Spain and Indonesia. Additional information about FCX is available on our Internet website www.fcx.com. (end of release)