Grupo Mexico to Submit Sponsored Reorganization Plan for Asarco LLC

Business Wire, April 25, 2008

MEXICO CITY -- Grupo Mexico, S.A.B. de C.V. ("GMexico") and its subsidiaries today announced that the Company intends to propose a sponsored reorganization plan through the Court-approved auction procedure to ensure the company's creditors are paid full or unimpaired. Although the Company objects to the auction process, it is finalizing a proposal in an effort to guarantee the fair valuation of Asarco LLC's assets and reestablish its control of the company.

The Company welcomes the involvement of the Court-appointed Examiner, who will oversee the auction and ensure the integrity of the process. The Company believes that with a full payment plan, there is no reason to accept any purchase of assets proposal, and the legal team is prepared to pursue all legal remedies to guarantee that the auction results in the full valuation of Asarco LLC's assets.