Cyprus Amax Minerals Declares Common and Preferred

Stock Dividends Denver (ots-PRNewswire) - Cyprus Amax Minerals Company (NYSE: CYM) announced that its Board of Directors declared a quarterly common stock dividend at its meeting today. A dividend of $0.05 per share is to be paid on August 2, 1999, to all shareholders of Cyprus Amax common stock of record on July 9, 1999. The ex- dividend date for this distribution is July 7, 1999. The Board of Directors further declared a regular quarterly dividend to shareholders of Cyprus Amax $4 Series A Convertible Preferred Stock. A dividend of $1 per share is to be paid September 1, 1999, to shareholders of record on August 10, 1999. The ex-dividend date for the preferred stock dividend distribution is August 6, 1999. Cyprus Amax Minerals Company is a leading producer of copper and coal, the world's largest producer of molybdenum, and holds a 30% interest in Kinross Gold Corporation. Cyprus Amax is exploring for minerals worldwide. Actual results may vary materially from any forward-looking statements the Company makes. Refer to the Cautionary Statement and Risk Factors contained in the Company's 1998 Form 10-K. To obtain a faxed copy of this or any Cyprus Amax news release, call 1-800-758-5804, ext. 224250. News releases can also be accessed via the Internet at the Cyprus Amax Minerals Company Web Site, http://www.cyprusamax.com. ots Original Text Service: Cyprus Amax Minerals Company Internet: http://www.newsaktuell.de Contact: Gerald J. Malys, Senior Vice President & Chief Financial Officer (USA) 303-643-5060, or John Taraba, Vice President & Controller (USA) 303-643-5244, both of Cyprus Amax Minerals Company Company News On-Call: http://www.prnewswire.com/comp/224250.html or fax, (USA) 800- 758-5804, ext. 224250 Web site: http://www.cyprusamax.com

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