RNS Number:2308M
Roberts, Howell and Wright
12 June 2003



Not for release, publication or distribution in or into the United States of
America, Australia or Japan

For immediate release                                             12 June 2003

                 STATEMENT REGARDING FREEPORT PLC ("Freeport")


Iestyn Roberts, Chris Howell and Nigel Wright (a "Management Team" formed for
the purpose of considering an offer for Freeport) announce that they have
decided not to proceed with an offer for Freeport.  The background to this
decision is set out below.

For the purposes of Rule 2.8 of the Takeover Code, the Management Team does,
however, reserve the right to make an offer for Freeport in the event that the
Board of Freeport (the "Board") agrees to recommend such an offer by the
Management Team or a third party announces a firm intention to make an offer for
Freeport.

On Friday 30 May 2003 the Management Team submitted a proposal to the Board in
relation to a possible offer for Freeport of between 350 pence and 380 pence per
Freeport share (the "Proposal"), representing a premium of between 61 per cent.
and 75 per cent. to the closing price of a Freeport share on 17 April 2003
(being the last business day prior to the announcement by KPMG Corporate Finance
of a possible approach by the Management Team).

The Proposal was accompanied by signed letters of support from both a leading
European private equity fund and a major provider of debt finance.   The
Proposal was, however, subject, inter alia, to due diligence access and
consequent completion of financing arrangements.  The Board rejected the
Proposal and did not permit due diligence access.

The Management Team is grateful for the support it has received from certain
Freeport shareholders.

Enquiries:

Buchanan Communications    +44 20 7466 5000
Richard Darby

CSFB                       +44 20 7888 8888
Ian Marcus/ Richard Crawley

KPMG Corporate Finance     +44 113 231 3000
Bob Bigley/ Jim Whittaker

Credit Suisse First Boston (Europe) Limited, which is regulated in the United
Kingdom by the Financial Services Authority, is acting for the Management Team
and no one else in relation to the matters described in this announcement and
will not be responsible to anyone other than the Management Team for providing
the protections afforded to clients of Credit Suisse First Boston (Europe)
Limited, nor for providing advice in relation to the matters described in this
announcement.

KPMG Corporate Finance, a division of KPMG LLP which is authorised by the
Financial Services Authority for investment business activities, is acting for
the Management Team and no one else in relation to the matters described in this
announcement and will not be responsible to anyone other than the Management
Team for providing the protections afforded to clients of KPMG Corporate
Finance, nor for providing advice in relation to the matters described in this
announcement.

                                      Ends


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