Dividend 2002

2002 Final Dividend of 20US cents/share was paid on 23 May 2003

2002 Final Dividend of 20US cents/share was paid on 23 May 2003
Description Date
Posting of Annual Report and currency election forms 4 April 2003
Ex-Dividend date 30 April 2003
Deadline for return of currency election forms 2 May 2003
Record date 2 May 2003
AGM 8 May 2003
Applicable exchange rate date 16 May 2003
Payment date 23 May 2003

EXCHANGE RATES FOR RECLAIM OF THE SWISS WITHHOLDING TAX for dividend payment of 23 May 2003

For the purpose of the reclaim of Swiss withholding tax the Swiss tax authorities require that the gross amount of the dividend is reflected in Swiss Francs. The relevant foreign exchange rates agreed with the Swiss tax authorities that have to be applied for claiming the refund are as follows:

Dividend exchange rates for dividend payment of 23 May 2003
GBP/CHF USD/CHF EUR/CHF
£1 = CHF2.1232 USD1 = CHF1.3069 EUR1=CHF1.5083

DIVIDEND EXCHANGE RATES for divident paymend of 23 May 2003

As Xstrata publishes its accounts in US dollars, the dividend payable on 23rd May 2003 will be paid in US dollars. The company has made arrangements for shareholders who so elected prior to 2nd May to receive this dividend in pounds sterling, Euros or Swiss Francs. The pound sterling, Euro or Swiss Franc amount payable will be determined by reference to the closing mid exchange rates applicable to the US dollar on Friday 16th May, being 7 days prior to the dividend payment date.

These rates are noted below and were published in the Financial Times on Saturday 17th May 2003:

Dividend exchange rates for dividend payment of 23 May 2003
USD/GBP USD/CHF USD/EUR
USD1.6246 = £1 USD1 = CHF1.3069 USD1.1541 = EUR1

Xstrata plc maintains a progressive dividend policy, which takes into account underlying growth in Group earnings, capital requirements and cash flows, while maintaining an appropriate level of dividend cover.

Interim and final dividends are generally paid in the approximate ratio of one-third and two-thirds of the total annual dividend. The Sterling, Euro or Swiss Franc amount payable will be determined by reference to the exchange rates applicable to the US dollar seven days prior to the dividend payment date. Dividends can be paid directly into a UK bank or building society account to shareholders who elect for their dividend to be paid in pounds sterling. Currency election and dividend mandate forms are available below.

Please feel free to contact us for any additional enquiries you may have.