Date: Thu, 20 Nov 1997 22:42:07 GMT Server: Apache/1.2.4 Last-Modified: Tue, 17 Jun 1997 15:04:59 GMT ETag: "dd466-962-33a6a79b" Content-Length: 2402 Accept-Ranges: bytes Connection: close Content-Type: text/html ASARCO
ASARCO News


ASARCO TERMINATES
DIRECTORS' RETIREMENT PLAN

New York, NY, October 26, 1995 - The Board of Directors of ASARCO Incorporated (NYSE:AR) terminated the Asarco Retirement Plan for Non-Employee Directors as of year end 1995 and froze the vested benefits as of that date. Effective October 25, 1995, the Board adopted a new Deferred Payment Plan through which outside directors will receive a part of their compensation in Asarco common stock equivalents.

At the Company's annual meeting in April, 1995, shareholders indicated that they wanted the Board to consider such a change in the compensation program in effect for Asarco Directors. In making this change, the Asarco Board of Directors decided that this new form of stock-based compensation would more directly link Directors' compensation with Company performance.

Under the new Deferred Payment Plan, an amount equal to 75% of the annual retainer will be credited to a Deferred Payment account up to a maximum of ten years of service. At least half of the amount under the Deferred Compensation Plan will be invested in Asarco common stock equivalents. Proceeds from this account will only be available following termination of Asarco Board service.

ASARCO Incorporated, headquartered in New York City, is one of the world's leading integrated producers of nonferrous metals, principally copper, lead, zinc, silver, molybdenum and gold. Asarco also produces specialty chemicals and aggregates.



FOR FURTHER INFORMATION: Jerry W. Cooper (212) 510-1810 (212) 510-1835 (FAX) Donald M. Noyes (212) 510-1813
Corporate Communications Department, ASARCO Incorporated, 180 Maiden Lane, N.Y. 10038-4991


ASARCO News Releases ASARCO Home Page