McMoRan Exploration Declares Quarterly Cash Dividend on Stock

McMoRan Exploration Co. declares, for the period from November 7, 2007 through February 15, 2008, a cash dividend of $1.8375 per share payable on February 15, 2008 to holders of record as of February 1, 2008 for its 6.75% mandatory convertible preferred stock. This dividend of $1.8375 per share includes the regular quarterly dividend of $1.6875 per share plus $0.15 per share for the eight-day period from November 7, 2007 to November 15, 2007.

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