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Teck Cominco Has No Plans to Negotiate Take Over Offer for Inco

Aug 9 2006

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Teck Cominco Limited today announced that it is not in, and has no plans to enter into, discussions or negotiations with Inco Limited regarding Teck Cominco’s offer to acquire all of the outstanding shares of Inco.

Teck Cominco President and Chief Executive Officer, Don Lindsay, said: “We believe that our offer for Inco is clearly superior to the highly conditional Phelps Dodge offer. As described in the Inco directors’ circular filed on August 7, the Teck Cominco offer includes almost twice as much cash as the Phelps Dodge offer and the Phelps Dodge offer is also subject to regulatory approval and Phelps Dodge shareholder approval.”

The Teck Cominco offer expires at midnight (Toronto time) on August 16, 2006.

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