FREEPORT-McMORAN COPPER AND GOLD (FCX $58.78, upgraded back to Overweight from Underweight) HIGHER PRICES PERMIT ZERO NET DEBT AT YEAR-END 2012, “DE-RISKING” TO PERMIT $2.00+ DIVIDEND IN 2012 7/22/2009

FREEPORT-McMORAN COPPER AND GOLD (FCX $58.78, upgraded back to
Overweight from Underweight) HIGHER PRICES PERMIT ZERO NET DEBT
AT YEAR-END 2012, “DE-RISKING” TO PERMIT $2.00+ DIVIDEND IN 2012 7/22/2009