IN. Inco

RNS Number:6539G
Inco Ld
20 December 2004





     Inco announces sale of its 70 per cent interest in Exmibal (Guatemala)


Toronto, December 20, 2004 - Inco Limited ("Inco") confirmed today that in
connection with the agreement it entered into with Skye Resources Inc. ("Skye")
on September 30, 2004 covering the sale of its 70 per cent interest in
Exploraciones y Explotaciones Mineras Izabel S.A. ("Exmibal"), a Guatemalan
nickel producer, Inco has, upon the initial closing under that agreement on
December 15, 2004, acquired ownership of that number of common shares of Skye
that would result in Inco owning 13.93 per cent of Skye.

Under the agreement with Skye, Inco has also granted Skye an option, subject to
certain conditions, to acquire Inco's 100 per cent interest in Bocanueva S.A.
and Tampico S.A.  Assuming the exercise of this option, Inco would receive that
number of common shares of Skye that would result in Inco owning up to 17.5 per
cent of Skye.  The option expires five years after the initial closing date of
the purchase of the Exmibal common shares.

For further information, contact Ernie J. Szabo, Assistant General Counsel at
(416) 361-7661.



                                      -30-



IN 04/23

December 20, 2004



For further information:
Investor Relations:        Sandra Scott (416) 361-7758
Media Relations:           Steve Mitchell (416) 361-7950
or www.inco.com




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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