SPCC Declares Dividend

Business Wire, Feb 28, 2001

Business Editors

MEXICO CITY, D.F.--(BUSINESS WIRE)--Feb. 28, 2001

Southern Peru Copper Corporation (SPCC) (NYSE:PCU and LSE:PCUC1) announced today a quarterly dividend of 14.3 cents per share payable April 4, 2001 to shareholders of record at the close of business on March 16, 2001.

SPCC is one of Peru's largest companies and one of the ten largest copper producers worldwide. The ownership of SPCC shares, either directly or through subsidiaries, is as follows: Grupo Mexico (54.2%); Cerro Trading Company (14.2%); Phelps Dodge (14.0%), and other shareholders (17.6%).

Grupo Mexico is a diversified mining company that ranks as the world's third largest copper producer, fourth largest silver producer and fifth largest zinc producer. The Company's mining operations include mining, smelting and refining in Mexico, the United States and in Peru. The Company has also developed one of the largest copper ore reserve positions in the industry. In addition, Grupo Mexico owns a majority of the largest and most profitable railroad in Mexico.