Freeport-McMoRan Copper & Gold Inc. Announces Ticker Symbol Change for Class B Common Stock

Freeport-McMoRan Copper & Gold Inc. has announced a change to its New York Stock Exchange ticker symbol for its Class B Common Stock, which will become "FCX" on Monday, November 13, 1995. This change is intended to facilitate coverage of the company's activities by the investment community, as a majority of the common stock ownership is represented by its Class B Common Stock. Holders of Class B Common Stock, which make up approximately 58% of the company's aggregate common ownership, will retain the right to elect 80% of the members of the company's Board of Directors, while maintaining equal voting rights with Class A Common Stock shareholders on all other issues subject to common shareholder vote.

Key Takeaways:

• The New York Stock Exchange ticker symbol for Freeport-McMoRan Copper & Gold Inc.'s Class B Common Stock will change from "FCX.B" to "FCX" on Monday, November 13, 1995.
• The only difference between the Class A and Class B common stocks is the right of Class B Common Stock holders to elect 80% of the members of the Board of Directors.
• Class A and Class B common shares have equal rights for purposes of dividends, liquidation, and all other respects.
• Approximately 58% of the company's aggregate common ownership is represented by Class B Common Stock.
• The change in ticker symbol is intended to facilitate coverage of the company's activities by the investment community.

Statistics:

• 58% of Freeport-McMoRan Copper & Gold Inc.'s aggregate common ownership is represented by Class B Common Stock.
• 80% of the company's Board of Directors will be elected by Class B Common Stock holders.

Sources:

• "Freeport-McMoRan Copper & Gold Inc." (No date stated in the original text)
• Craig E. Saporito, 504/582-4476
• Chris D. Sammons, 504/582-4474