Director Shareholding

Antofagasta PLC
10 March 2004



                    ANTOFAGASTA PLC - LUKSIC GROUP INTERESTS

London 10 March 2004: - The Chairman, Mr A.A. Luksic, has informed the company
of a change in the holding structure of his main interests in Antofagasta plc ('
Antofagasta').  This change does not alter the overall percentage interest that
Mr Luksic controls in Antofagasta.

Previously, Mr Luksic indirectly held 100,000,000 ordinary shares and 1,882,396
preference shares through Dolberg Finance Corporation ('Dolberg') and 27,863,048
ordinary shares through Lanzville Establishment ('Lanzville').  With effect from
8 March 2004, Dolberg and Lanzville have transferred their holdings to
Metalinvest Establishment and Sandypoint Establishment respectively.
Metalinvest and Sandypoint are both controlled by the E. Abaroa Foundation,
which is controlled by Mr Luksic.

All appropriate notifications under S198-202 of the Companies Act 1985 in
relation to the change of notifiable interests resulting from this
reorganisation were received by Antofagasta on 8 March 2004.


Enquiries -

London                                           Santiago
Tel: [phone]                            Tel: [phone]

Philip Adeane                                    Ramon Jara
Email: [e-mail]              Email: [e-mail]


Keith Irons, Bankside Consultants
Tel:  [phone]
[e-mail]



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