Coeur's Long-Term Debt Reduced by $23 Million.

Business Editors

COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Dec. 16, 2002

Converts Remaining Series II 13.375% Notes Issued in June 2002;

Convertible Debt Reduced by 23% Since the End of the Third Quarter

Coeur d'Alene Mines Corporation (NYSE:CDE) today announced further significant reductions in its outstanding long-term convertible debt.

Coeur's remaining convertible indebtedness now stands at $79.5 million, down from $145.5 million at the beginning of the year, which represents a 45% decline. Coeur ended the third quarter of 2002 with $102.7 million in convertible debt.

Dennis E. Wheeler, Coeur's Chairman and Chief Executive Officer, remarked: "We have eliminated over $210 million of debt while cutting our annual cash interest expense by approximately $16 million since embarking on our debt-reduction program in 1998. These considerable interest savings, combined with significant reductions in our operating costs, represent major elements of our ongoing turnaround plan. We are pleased to now be in the position of generating positive operating cash flow for our shareholders."

Coeur recently exchanged 7.9 million shares of common stock for $10.3 million principal amount of its 6.375% Convertible Debentures due January 2004, reducing the remaining balance to $55.1 million. In addition, the Company exchanged 2.1 million shares of common stock for $2.7 million principal amount of its 7.25% Convertible Debentures due October 2005, reducing the remaining balance to $11.7 million. Since September 30, 2002, holders of $10.1 million of Coeur's Series I and II 13.375% Convertible Notes due December 2003 have voluntarily converted into 8.8 million common shares. As a result, the Series II 13.375% Convertible Notes have been fully retired.

After taking these exchanges and conversions into account, Coeur now has 118.0 million shares outstanding.

Coeur d'Alene Mines Corporation is the world's largest primary silver producer, as well as a significant, low-cost producer of gold. The Company has mining interests in Nevada, Idaho, Alaska, Argentina, Chile and Bolivia.

Cautionary Statement

This document contains numerous forward-looking statements relating to the Company's silver and gold mining business. The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. Operating, exploration and financial data, and other statements in this document are based on information the company believes reasonable, but involve significant uncertainties as to future gold and silver prices, costs, ore grades, estimation of gold and silver reserves, mining and processing conditions, changes that could result from the Company's future acquisition of new mining properties or businesses, the risks and hazards inherent in the mining business (including environmental hazards, industrial accidents, weather or geologically related conditions), regulatory and permitting matters, and risks inherent in the ownership and operation of, or investment in, mining properties or businesses in foreign countries. Actual results and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.