----In a recent
presentation to the Wire Reinforcement Institute's Executive
Committee, Thomas D. Verti, who was the keynote speaker at WRI's Annual Meeting in
Phoenix, Arizona, is a 34-year veteran in the field of concrete
construction and is vice president of the American Concrete Institute
(ACI). He will take on the position of ACI President in spring of
2006, and is an honorary member of the WRI.

Phelps Dodge to Sell High Performance Conductor Business

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The sale will include HPC manufacturing operations in Inman, S. The transaction will not include a Phelps Dodge facility at
Elizabeth, N .

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In his presentation, titled "Innovations in High-rise Concrete
Construction," Mr. The featured project was the
40-story Paramount residential tower in San Francisco, California, the
tallest precast concrete building in a high seismic zone.
Verti's presentation is available on WRI's News page at
www.

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WRI works closely with
government agencies, allied industries and organizations to ensure the
most accurate, up-to-date codes, standards, specifications and
regulatory requirements ., and
Trenton, Ga.
HPC is a manufacturer of specialty high-performance conductors for the
aerospace, medical, automotive, computer, telecommunications, mass
transportation, geophysical and electronics markets.

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com

WRI is the concrete construction industry's leading source for
timely , objective and credible information on the uses and benefits of
Welded Wire Reinforcement and related products.

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WRI works to promote the superior performance
attributes of WWR products across the full range of reinforcement
applications., which will become a unit of the Phelps Dodge Smelting,
Refining and Rod Group.

This news release contains forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.

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Business Editors

HARTFORD, Conn . Verti, president of Charles Pankow Builders,
Ltd.wirereinforcementinstitute. One of the largest general
contractors in the United States, Pankow has been headquartered in Los
Angeles for 41 years and has additional offices in San Francisco,
Oakland, and Honolulu. (HPC) to International Wire Group (IWG). The company and its two divisions, Phelps Dodge
Mining Co.

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wirereinforcementinstitute .

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"The makeup of the joint causes it to work much like an automobile
shock absorber to dampen seismic forces that occur in a major
earthquake," described Mr. Verti.
Mr.pankow. To learn more about WWR, please visit WRI's website at
www. (NYSE: PD)
announced today it has agreed to sell Phelps Dodge High Performance Conductors
of SC + GA, Inc. Phelps Dodge also is a
primary supplier of copper rod to IWG.

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Verti provided several case studies demonstrating
the use of the revolutionary Precast Hybrid Moment Resistant Frame
(PHMRF) construction methodology.

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Phelps Dodge expects to
record a special, net after-tax loss on the transaction of approximately
$5 million. and Phelps Dodge Industries, employ approximately 15,000 people
worldwide. In addition
to the risks and uncertainties noted in this news release, there are certain
factors that could cause results to differ materially from those anticipated
by some of the statements made.

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, discussed the strategic advantages of using "wire reinforcement"
products for construction in high seismic areas, such as Southern
California .

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wires ormiston

The PHMRF, which incorporates strategic use
of "wire reinforcement" products, is an innovative precast concrete
frame system that uses post-tensioning cables and energy dissipating,
mild reinforcing steel in the beam-column connections. PHOENIX, Phelps Dodge Corp. Under the agreement, Phelps Dodge will continue to be
a primary supplier of certain copper alloys to IWG. is one of the world's leading producers of copper and
molybdenum and is the largest producer of molybdenum-based chemicals and
continuous-cast copper rod.

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Developer of Wire Reinforced 'Shock Absorber' Joint Discusses Its Use in High Seismic Areas

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Charles Pankow Builders, Ltd.

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A PowerPoint copy of Mr.J.

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These factors include those listed in
Management's Discussion and Analysis of Financial Condition and Results of
Operations in the company's most recently filed annual report on Form 10-K for
the fiscal year ended December 31, 2005.

Specialty wire only.

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Pankow, one of the country's
foremost innovators of concrete construction methodologies,
spearheaded the development of the PHMRF from concept to code approval
and industry application. (Pankow) is an industry leader in
design-build project delivery , pre-construction services and the use
of advanced concrete technology.org or call us at (800) 552 -4WRI
(4974).

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The company specializes in building
large urban projects including office, retail , hospitality,
residential, sports and entertainment, healthcare, high-tech, parking
structures and mixed-use projects.

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C.

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For more information, please visit our website
at www.

Under the
agreement, IWG will purchase the stock of HPC, including certain copper
inventory, for approximately $47 million in cash, subject to a working capital
adjustment at the time of closing, plus a contingent payment to Phelps Dodge
of up to $3 million based on HPC's 2006 results. The sale is subject to certain regulatory approvals.

Phelps Dodge Corp.

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He also
emphasized the importance of collaboration and partnering of all
concrete and reinforcing-related companies, associations and
institutes in order to constantly innovate and improve the process of
design and construction .

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