New Sponsored ADR Programme in US & Name Change

Antofagasta Hldgs PLC
17 December 1999

                   Name change for long-established company                   

               New sponsored ADR programme in the United States               

LONDON: 17 December 1999 - Antofagasta Holdings P.L.C. (ANTO.L), the UK-listed
mining group with operations based in Chile, announces that it has changed its
name to Antofagasta plc.    Shareholders approved the change at an
extraordinary general meeting held in London today. Certain of the Group's
subsidiaries will also change their names.

The Company has also announced the establishment of a Level-1 ADR programme in
the United States. The Bank of New York has been appointed as the Depositary
Bank for this sponsored ADR-programme which is now effective.   Each ADR
represents two ordinary shares of Antofagasta plc and they will trade on the
over-the-counter market in the United States under the symbol ANFGY.  The
CUSIP number is 037189107.  

The change in the Antofagasta name reflects the latest developments in a
company which has had an association with the London stock market since the
1880's.   Antofagasta was originally listed on the London Stock Exchange in
1888 as the Antofagasta (Chili) and Bolivia Railway Company.  Since 1980 the
Group has acquired minority investments in various industrial enterprises and
in 1982 Antofagasta Holdings P.L.C. was set up as the listed holding company
of the Group to reflect the more diversified nature of its activities.  In
recent years the Group has focused its resources on the mining sector in Chile
in addition to continuing its railway operations.  The various other minority
investments have been consolidated and are represented by the Group's
investment in Quinenco S.A., a quoted Chilean company in which Antofagasta
holds a 33.6% interest. 

Enquiries: Antofagasta 
Philip Adeane, Managing Director    
Email:  [e-mail]

Hussein Barma, Chief Financial Officer                                        
Email:  [e-mail]

Neil Herbert, Financial Controller
Email:   nherbert:antofagasta.co.uk 

Tel: [phone]

Issued By:
Keith Irons                                                                   
Email: [e-mail]
Bankside Consultants Limited                                                  
Tel: [phone]