Phelps Dodge Corp.

Stock Symbol: PD

Phelps Dodge Corp. Description:
Phelps Dodge Corp. is a worldwide producer of copper, carbon black and magnet wire, and continuous-cast copper rod. The Company also has become a producer/processor of molybdenum and molybdenum products with the acquisition of Cyprus Amax Minerals Co. The Company consists of two divisions: Phelps Dodge Mining Company (PD Mining) and Phelps Dodge Industries (PD Industries). PD Mining includes the Company's worldwide copper operations from mining through rod production, marketing and sales; molybdenum operations from mining through manufacturing, marketing and sales; other mining operations and investments; and worldwide mineral exploration and development programs. PD Industries includes the Company's specialty chemicals segment and its wire and cable segment.

Phelps Dodge Corp. Financial Summary:
PD operates Phelps Dodge Mining Co. (involved in copper operations-including mining, concentrating, smelting & refining) & Phelps Dodge Inds. (manufactures engineered products for the transportation, energy & telecommunications inds.). For the 6 months ended 6/30/05, sales rose 30% to $4.22B. Net income applic. to Common rose from $405.5M to $1.06B. Results reflect higher copper prices and a $438.4M gain on the sale of all the Company's common shares in SPCC.

Phelps Dodge Corp. Business Summary:
Phelps Dodge Corporation (PD) is engaged in the production of copper, carbon black and magnet wire, and continuous-cast copper rod. The Company is also a producer/processor of molybdenum and molybdenum products. PD operates in two major divisions: Phelps Dodge Mining Company (PDMC) and Phelps Dodge Industries (PDI). PDMC includes the worldwide, vertically integrated copper operations from mining through rod production, marketing and sales; molybdenum operations from mining through conversion to chemical and metallurgical products, marketing and sales; other mining operations and investments, and worldwide mineral exploration, technology and project development programs. PDI is the manufacturing division comprised of two segments: Specialty Chemicals, and Wire and Cable. PDI produces engineered products principally for the global energy, transportation and specialty chemicals sectors.