News Releases

GLENCORE INTERNATIONAL AND CSFB JOINT INTEREST

Zug, 7 November 2006

Xstrata plc ("Xstrata") announces that it was notified on 6 November 2006 by Credit Suisse Group (“CSG”) of a change in the interests of CSG, Credit Suisse First Boston Equities Limited ("CSFB Equities") and Credit Suisse Securities (Europe) Limited (“CSSEL”) in Xstrata's ordinary shares (the “Shares”). The notification stated that CSFB Equities and CSSEL are party to agreements (together the “Agreement”) with Glencore International AG (“Glencore”) relating to the acquisition of interests in the Shares. The notification also stated that CSG had an interest in 351,981,410 Shares (37.32%) of which CSFB Equities, CSSEL and Glencore in aggregate were jointly interested in 338,317,474 Shares (35.87%). The notification stated that CSFB Equities held 0 Shares and was interested in 338,317,474 Shares (35.87%) by virtue of the Agreement and that CSSEL held 153,076,741 Shares (16.23%), (1,488,011 of which were in the course of settlement) and was interested in a further 185,240,733 Shares (19.64%) by virtue of the Agreement. The notification stated further that CSSEL’s interests in 28,130 Shares were interests of the type as is mentioned in section 208(5) of the Companies Act 1985, as amended (“Section 208(5)”) by virtue of the right to redelivery of equivalent securities under stock lending arrangements. According to the notification, CSG’s interests in an additional 12,622,132 Shares were interests of the type as is mentioned in Section 208(5) by virtue of the right to redelivery of equivalent securities under stock lending arrangements.

A notification received from Glencore on 6 November 2006 stated that Glencore is a party to the Agreement with CSFB Equities and CSSEL and that Glencore, CSFB Equities and CSSEL in aggregate were jointly interested in a total of 338,317,474 Shares (35.87%). The notification stated that Glencore holds 185,240,733 Shares (19.64%) and is interested in a further 153,076,741 Shares (16.23%) by virtue of the Agreement. The notification stated further that, so far as was known to Glencore at the date of its notification, Glencore’s interests in 28,130 Shares were interests as are mentioned in Section 208(5).

As of 7 November, 943,150,383 Shares were in issue.

Xstrata contacts

Richard Elliston
Telephone 020 7968 2885
Mobile 07759 924 576
Email relliston@xstrata.com

Claire Divver
Telephone 020 7968 2871
Mobile 07785 964 340
Email cdivver@xstrata.com