Goldcorp Declares Second Monthly Dividend Payment for 2006.

VANCOUVER, British Columbia -- (All dollar amounts in United States dollars (US$) -

GOLDCORP INC. (TSX:G)(NYSE:GG) is pleased to declare its second monthly dividend payment for 2006 of $0.015 per share. Shareholders of record at the close of business on Friday, February 17, 2006 will be entitled to receive payment of this dividend on Friday, February 24, 2006.

Goldcorp is the world's lowest cost and fastest growing gold producer. Gold production in 2006 is expected to exceed 2 million ounces at a cash cost of approximately US$150 per ounce and Goldcorp remains unhedged.

Cautionary Note Regarding Forward-Looking Statements

Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to those with respect to the price of gold, silver and copper, the timing and amount of estimated future production, costs of production, reserve determination and reserve conversion rates involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Goldcorp to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to the integration of acquisitions, risks related to international operations, risks related to joint venture operations, the actual results of current exploration activities, actual results of current reclamation activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, silver and copper, as well as those factors discussed in the section entitled "General Development of the Business - Risks of the Business" in Goldcorp's Form 40-F on file with the Securities and Exchange Commission in Washington, D.C. and Goldcorp's Annual Information Form on file with the securities regulatory authorities in Canada. Although Goldcorp has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Goldcorp Inc. (TSX:G) (NYSE:GG)