COURT AFFIRMS DISMISSAL OF LAWSUIT AGAINST FREEPORT-McMoRan COPPER & GOLD INC.

Business Editors

NEW ORLEANS--(BUSINESS WIRE)--Feb. 25, 2002

Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) said today it welcomes the decision by the Fourth Circuit Court of Appeal, State of Louisiana, that affirms the dismissal with prejudice of all claims in a five-year old lawsuit pending against the company filed by a New Orleans plaintiffs' attorney, Martin E. Regan, Jr., on behalf of Yosepha Alomang, an Indonesian citizen.

James R. Moffett, Chairman and CEO of FCX said, "We have always been confident that we would prevail because the allegations in this lawsuit, now over five years old, had no basis in law or in fact. We will continue, as we have in the past, to focus on building and strengthening relationships with our neighbors and partners in the Indonesian province of Papua, where we operate."

In addition to the State Appellate Court decision announced today, an earlier lawsuit filed by Mr. Regan on behalf of another Indonesian citizen in the United States Federal District Court was similarly dismissed with prejudice in March of 1998. The dismissal of that case was also affirmed on appeal.

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 web site "fcx.com".