Noranda Completes Note Offering

On June 24, 2002, Noranda Inc. completed an offering of US$300 million principal amount of 7-1/4 per cent notes due July 15, 2012 in the U.S. under the Canada/U.S. multijurisdictional disclosure system. The syndicate of underwriters was led by Deutsche Bank Securities Inc. and included Banc One Capital Markets, Inc., Barclays Capital, Goldman, Sachs & Co., Merrill Lynch & Co., Inc., SunTrust Robinson Humphrey and Trilon International Inc.

Noranda was represented by in-house counsel Julie Galloway, assisted by McCarthy Tétrault LLP as Canadian counsel, with a team that included Garth Girvan, Jonathan Grant, Frank DeLuca and Martha Hundert (corporate/securities), Gabrielle Richards (tax) and Doug Thomson (environmental). Fried, Frank, Harris, Shriver & Jacobson was U.S. counsel to Noranda, with a team that included Kenneth Blackman, C.B. Richardson, III, and Sarah Warren (corporate/securities), Joe Calto (tax) and Donna Mussio (environmental).

Skadden, Arps, Slate, Meagher & Flom LLP in Toronto acted for the underwriters, with a team that included Christopher Morgan, Riccardo Leofanti, Jason Saltzman, Robert Normandeau and Raziel Zisman (corporate/securities), Eric Sensenbrenner (tax) and John Amodeo (environmental).