Plains Exploration & Production Company announced that PXP's Board of Directors has declared a special one-time cash dividend of $3.00 per share, payable to PXP stockholders as of May 30, 2013, the dividend record date. The dividend is conditioned upon and will be paid immediately prior to or upon the completion of PXP's merger with Freeport-McMoRan Copper & Gold Inc. The merger is expected to close on May 31, 2013.

Plains Exploration & Production Company announced that it has received the approval of Freeport-McMoRan Copper & Gold Inc. under the merger agreement between the companies for PXP's Board of Directors to declare a special one-time cash dividend of $3.00 per share. Upon receipt of bank waivers under a credit facility that will terminate in connection with the merger, PXP's Board of Directors intends to declare the dividend to PXP stockholders as of May 30, 2013, the expected dividend record date. The dividend will be conditioned upon and paid immediately prior to the completion of PXP's merger with Freeport-McMoRan Copper & Gold Inc.

Plains Exploration & Production Company, Special/Extraordinary Shareholders Meeting, May 20, 2013., at 10:00 Central Standard Time. Agenda: To consider and approve the merger agreement with Freeport-McMoRan Copper & Gold Inc.