FCX Fcx Intl

RNS Number:7173Y
J O Hambro Capital Management Ld
16 July 2002

For immediate release


Not for release, publication or distribution in whole or in part, in or into the
                   United States, Canada, Australia or Japan



                                                                   16 July, 2002


J O Hambro Capital Management Limited


Update Regarding FCX International plc ("FCX International")



On 9 July 2002, following the closure of the Tender Offer on behalf of J O
Hambro Capital Management Limited ("JOHCM") to purchase up to 2,500,000 ordinary
shares of 50 pence each in FCX International plc ("FCX Ordinary Shares"), Strand
Partners Limited ("Strand Partners") announced that funds managed by JOHCM held
2,805,399 FCX Ordinary Shares representing approximately 15.48 per cent of FCX
International's entire issued share capital. On the same date, funds managed by
JOHCM subsequently acquired a further 60,000 ordinary shares in FCX
International through the market, to take JOHCM's aggregate shareholding up to
2,865,399 or 15.81 per cent of FCX International's entire issued share capital.



It was also announced on 9 July 2002 that, following consultation with other
major independent shareholders in FCX International, JOHCM would within seven
days be requisitioning an extraordinary general meeting of FCX International at
which it would seek the removal of John Perkins, Stuart Stradling and Kenneth
Williams as directors of FCX International.



On 10 July 2002, XCF Investments Limited announced that it had received valid
acceptances or had acquired or contracted to acquire a total of 9,405,362 FCX
Ordinary Shares representing approximately 51.88 per cent. of the existing
issued share capital of FCX International and that as a result its Mandatory
Offer had now become unconditional in all respects.



Accordingly, JOHCM has decided, with the consent of XCF Investments Limited, not
to proceed with requisitioning an extraordinary general meeting of FCX
International.



Enquiries:



J O Hambro Capital Management Limited

Tel: (020) 7747 5678

Christopher Mills, Chief Investment Officer



Strand Partners Limited

Tel: (020) 7409 3494

(Financial Adviser to JOHCM)

Simon Raggett, Director





Strand Partners, which is authorised in the United Kingdom by the Financial
Services Authority, is acting for JOHCM and no one else in connection with the
Tender Offer and will not be responsible to anyone other than JOHCM for
providing the protections afforded to customers of Strand Partners, nor for
giving advice in relation to the Tender Offer.



Strand Partners has approved the contents of this announcement solely for the
purpose of section 21 of the Financial Services and Markets Act 2000. The
principal place of business of Strand Partners is 110 Park Street, London, W1K
6NX.



The JOHCM Directors accept responsibility for the information contained in this
announcement. Subject as aforesaid, to the best of the knowledge and belief of
the JOHCM Directors (who have taken all reasonable care to ensure that such is
the case), such information is in accordance with the facts and does not omit
anything likely to affect the import of such information.

This announcement does not constitute, or form part of, an offer or an
invitation to purchase any securities.



END



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