RNS Number:2606Q
Inco Ld
26 September 2003

                             INCO LIMITED COMPLETES
                 PUBLIC OFFERING OF DEBT SECURITIES IN THE U.S.
          AND INDICATES REDEMPTION OF CERTAIN EXISTING DEBT SECURITIES

Toronto, September 26, 2003 - Inco Limited announced today that it has completed
the underwritten public offering in the United States of U.S. $300 million
aggregate principal amount of its 5.70% debentures due 2015 (the "Debentures").
As previously indicated, the net proceeds from this offering of Debentures,
estimated at approximately U.S. $297 million after underwriting commissions and
other expenses, will, together with available cash, be used to redeem, as
indicated below, Inco's currently outstanding 9.60% Debentures due 2022 (the
"9.60% Debentures") and currently outstanding 73/4% Convertible Debentures due
2016 (the "7 3/4% Convertible Debentures") in accordance with their applicable
terms of redemption.


Inco has elected to redeem on October 27, 2003 all of its currently outstanding
7 3/4% Convertible Debentures at a redemption price of 100% of the aggregate
outstanding principal amount thereof plus accrued interest to the October 27,
2003 redemption date. Interest will cease to accrue on the 7 3/4% Convertible
Debentures on and after such redemption date. The conversion price for each 73/4%
Convertible Debenture is U.S. $38.25 per Inco Common Share.


Inco has also elected to redeem on October 27, 2003 all of its currently
outstanding 9.60% Debentures at a redemption price of 104.32% of the aggregate
outstanding principal amount thereof (or U.S. $1,043.20 per U.S. $1,000 in
principal amount) plus accrued interest to the October 27, 2003 redemption date.
Interest will cease to accrue on the 9.60% Debentures on and after such
redemption date.

                                     - 30 -


IN 03/33
September 26, 2003

For further information:
      Media:                   Steve Mitchell           (416)361-7950
      Investor Relations:      Sandra Scott             (416)361-7758

or www.inco.com


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

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