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 T├ętrault 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).

Lawyer(s)

Eric Sensenbrenner Doug Thomson Joseph Calto Jason M. Saltzman Martha R. Hundert Riccardo Leofanti Donna Mussio Robert A. Normandeau Jonathan R. Grant Christopher W. Morgan Frank A. DeLuca Garth (Gary) M. Girvan John Amodeo Raziel Zisman Sarah F. Warren Kenneth R. Blackman Gabrielle M.R. Richards

Firm(s)

McCarthy Tétrault LLP Fried, Frank, Harris, Shriver & Jacobson LLP Skadden, Arps, Slate, Meagher & Flom LLP Skadden, Arps, Slate, Meagher & Flom LLP