Noranda Inc.

Noranda is a leading international mining and metals company employing 15,000 people at its operations and offices worldwide. Total assets were $11 billion at year end 2002. Noranda is one of the world's largest producers of zinc and nickel and a significant producer of copper, primary and fabricated aluminum, lead, silver, gold, sulphuric acid, and cobalt. Noranda is also a major recycler of secondary copper, nickel and precious metals.

Noranda sells commodity, value-added and manufactured products to its customers throughout the world.

Noranda is a Canadian company whose common shares are listed on the Toronto Stock Exchange (TSE:NRD) and the New York Stock Exchange (NYSE:NRD). Noranda has approximately 294 million common shares outstanding. Brascan Corporation, our major shareholder, owns approximately 42% of Noranda Inc.'s common shares.