Asarco Names Five to New Posts in Financial Department.

NEW YORK--(BUSINESS WIRE)--Sept. 11, 1997--ASARCO Incorporated (NYSE:AR) today announced five new appointments in its Financial Department. The following have been named to new posts by Kevin R. Morano, Vice President and Chief Financial Officer:

-- Stephen E. Dowd, currently assistant controller, has been elected assistant treasurer;

-- David B. Foltz, currently director, taxes, has been elected assistant controller, taxes;

-- William M. Athas, currently manager, consolidations, has been elected assistant controller;

-- Robert DiGiacomo, currently manager, financial systems development, has been named director, corporate accounting, and

-- Donald A. Drum, currently manager, sales systems, has been named manager, consolidations.

The appointments are effective October 1, 1997.

Stephen E. Dowd, the new assistant treasurer, joined Asarco as assistant controller in 1990 from the international accounting, tax and consulting firm of Ernst & Young where he began his career in 1976 in New York City. Since joining Asarco, Dowd has had responsibility for corporate accounting and most recently for financial planning.

A native of New York City, Dowd received a bachelor of business administration degree from Baruch College. He and his wife, the former Maryanne T. Ryan of the Bronx, New York, live with their daughter in Pleasantville, New York.

David B. Foltz was named Asarco's director of taxes in 1995. He previously had been manager of tax research and planning for Asarco since 1989. Prior to joining Asarco, he was a manager in the international tax group at KPMG Peat Marwick.

A native of Easton, Pennsylvania, Foltz received a bachelor of science degree in business and economics from Lehigh University in 1980, a law degree from New York Law School in 1986, and a Master of Laws degree in taxation from New York University in 1992. He and his wife, the former Cyrene Maria Danciart of Arcadia, CA., live with their two sons and daughter in Westfield, N.J.

William M. Athas joined Asarco in 1987 as a senior accounting specialist and became manager, metal and cost analysis in 1992. He was named manager, consolidations in 1996. Athas held accounting posts at Pannel Kerr Forster in New York City before joining Asarco. A 1984 graduate of Boston College with a bachelor of science degree in accounting, Athas became a CPA in 1986. He and his wife, Regina, and their two daughters, reside in Newton, PA.

Robert DiGiacomo joined Asarco in 1985 as a senior accountant from the New York office of Arthur Andersen, an international accounting firm. He was named manager, metals and cost accounting in 1989 and later served as manager, sales systems and analysis and manager of consolidations. DiGiacomo earned his bachelor of business administration degree in accounting from Iona College in 1982 and his CPA in 1984.

He and his wife, Luciana, and their daughter live in Pleasantville, N.Y.

Donald A. Drum also held accounting posts at Pannell Kerr Foster in New York before joining Asarco in 1988 as a financial specialist. He became manager, metal accounting in 1994 and has been manager of sales systems in Asarco's Commercial department since 1996.

Drum received both a bachelor of business administration degree in accounting and a masters degree in business administration in 1984 from Pace University in New York and earned his CPA in 1986. He and his wife, Patricia, and three sons live in Montvale, N.J.

ASARCO Incorporated is one of the world's leading integrated producers of nonferrous metals, principally copper, lead, zinc, silver and molybdenum. Asarco also produces specialty chemicals and aggregates. Asarco had 1996 sales of $2.7 billion.

CONTACT: Jerry Cooper, Corporate Communications

ASARCO Incorporated, 212-510-1810