SUDBURY, Feb. 21 /PRNewswire-FirstCall/ - Falconbridge Limited announces
that it has reached a tentative strike settlement agreement with the Sudbury
Mine, Mill and Smelter Workers Union Local 598 (CAW) at its Sudbury nickel
operations.
    Details of the strike settlement offer will be presented to employees at
a ratification vote scheduled for Sunday, February 22, 2004. A return to work
agreement has been established with the union for an orderly resumption of
operations that will be completed within a two-week period of time.
    Falconbridge Sudbury operations are part of the Company's Integrated
Nickel Operations (INO). The operations employ over 1,500 people and consist
of four underground mines, a mill and a smelter. Approximately 1,050
production and maintenance workers are represented by Sudbury Mine, Mill and
Smelter Workers Union Local 598 (CAW).

    Falconbridge Limited is a leading producer of nickel, copper, cobalt and
platinum group metals. Its common shares are listed on the Toronto Stock
Exchange under the symbol FL. Falconbridge is owned by Noranda Inc. of Toronto
(59.2%) and by other investors (40.8%).

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