McMoRan Exploration Co. Declares Quarterly Cash Dividends on Preferred Stocks

NEW ORLEANS--(BUSINESS WIRE)--McMoRan Exploration Co. (NYSE: MMR) today declared the following cash dividends payable on November 15, 2011 to holders of record as of November 1, 2011 on its preferred stocks:

• $14.375 per share of MMR’s 5 3/4% Convertible Perpetual Preferred Stock.
• $20.00 per share of MMR’s 8% Convertible Perpetual Preferred Stock.

McMoRan Exploration Co. is an independent public company engaged in the exploration, development and production of natural gas and oil in the shallow waters of the Gulf of Mexico Shelf and onshore in the Gulf Coast area. Additional information about McMoRan is available on its internet website “www.mcmoran.com.”