Phelps Dodge Sets Shareholder Meeting Dates

Phelps Dodge Corp. today announced that in order to comply with the terms of its combination agreement with Inco Ltd., its board of directors has set Sept. 25th, 2006, as the date for its special shareholders meeting to vote on the transactions contemplated by the combination agreement, & the close of business on Aug. 24th, 2006, as the record date for determining shareholders eligible to vote at that meeting.