McMoRan Exploration Co. (NYSE: MMR) today declared a cash dividend of $20.00 per share payable on November 15, 2010 to holders of record on November 1, 2010 for its 8% Convertible Perpetual Preferred Stock. McMoRan currently has approximately $22 million in 8% Convertible Perpetual Preferred Stock outstanding.

McMoRan Exploration Co. is an independent public company engaged in the exploration, development and production of natural gas and oil in the shallow waters of the Gulf of Mexico Shelf and onshore in the Gulf Coast area. Additional information about McMoRan is available on its internet website “www.mcmoran.com”.

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