## MANAGEMENT 

## Members of the Board of Directors as of Decem- ber 31, 2003 

1.- GERMÁN LARREA MOTA-VELASCO.  Chairman of the Board since December 1999, Chief Executive Officer from December 1999 to October 2004, and Director of SPCC since November 1999. Chairman of the Board of Directors, President and Chief Execu- tive Officer of Grupo Mexico (holding). Chairman of the Board of Directors and Chief Executive Officer of Grupo Minero Mexico (mining division) since 1994, and of Grupo Ferroviario Mexicano (railroad divi- sion), since 1997. Chairman of the Board and Chief Executive Officer of Empresarios Industriales de Mexico (holding), since 1992. Previously Executive Vice Chairman of Grupo Mexico and member of the Board of Directors since 1981. Chairman and Chief Executive Officer of ASARCO Incorporated from No- vember 1999 to August 2003, and its President from November 1999 to January 2000. 

2.-  EMILIO CARRILLO GAMBOA.  Director of SPCC since May 30, 2003. A prominent lawyer in Mexico, he has been a partner of the law firm Bufete Carrillo Gamboa, S. C., specializing in corporate, financial, commercial, and public utility issues, for the last five 

years. Mr. Carrillo Gamboa has extensive business experience and has served or currently serves on the boards of many prestigious Mexican businesses and charitable organizations. He is Chairman of the Board of Cementos Apasco, S.A. de C.V. (cement company). In 1957 and 1958, he worked for the Internal Revenue Service of the Ministry of Finance and Public Credit of Mexico. On August 15, 1960, he entered Teléfonos de Mexico as Head of the Financial Studies Department, was appointed Secretary of the Board of Directors in February 1962, Executive Vice President in February 1967, and President on June 30, 1975, a position he held until his retirement on June 30, 1987. From July 1987 to February 1989 he was Mexico’s Ambassador to Canada. Mr. Car- rillo is a director of the following companies: Grupo Modelo, S.A. de C.V. (beer brewing), Kimberly-Clark de México, S.A. de C.V. (consumer products), San Luis Corporación, S.A. de C.V. (automotive parts), Empresas ICA Sociedad Controladora, S.A. de C.V. (construction), Grupo México, S.A. de C.V., and the Mexico Fund, Inc. (NYSE – mxf), a nondiversified closed-end management investment company. He is member of the Valuation, Contract Review and Ap- pointment and Corporate Governance Committees of the Mexico Fund. Mr. Carrillo is also a member of the Audit Committee of SPCC and the following 

companies: Empresas ICA Sociedad Controladora, S.A. de C.V. since 2001, Cementos Holcim-Apasco, S.A. de C.V. since 2002, Grupo Modelo, S.A. de C.V. since 2002, Kimberly-Clark de México, S.A. de C.V. since 2002, San Luis Corporacion, S.A. de C.V. since 2002, The Mexico Fund, Inc. since 2002, and Grupo Mexico, S.A. de C.V. since 2003. Of these compa- nies, only two are public companies: The Mexico Fund Inc., and Empresas ICA Sociedad Controladora, S.A. de C.V. Mr. Carrillo Gamboa has a law degree from the Autonomous National University of Mexico, attended a continuous legal education program at Georgetown University Law School, and practiced at the World Bank. 

3. JAIME FERNANDO COLLAZO GONZÁLEZ. Director, Vice-President, Finance and Chief Financial Officer of SPCC since April 28, 2004. Managing Director of Grupo Mexico, S.A. de C.V. since March 2004. Managing partner of Administration and Busi- ness Consulting, S.C. (a business consulting firm) from 1999 to 2003. Previously, he held several posi- tions with IBM de Mexico, S.A., the last one being Vice-President and Chief Financial Officer, prior to his retirement in 1998. He holds a Bachelor’s degree in Administration from Universidad Tecnológica de México and a Master’s degree in Business Adminis- 

tration from the Instituto Tecnológico y de Estudios Superiores de Monterrey. 

4.- XAVIER GARCÍA DE QUEVEDO TOPETE. Director of SPCC since November 1999. President of Minera México, S.A. de C.V. since September 1, 2001, Managing Director of Grupo Ferroviario Mexi- cano, S.A. de C.V. and Ferrocarril Mexicano, S.A. de C.V. from December 1997 to December 1999. Direc- tor General of Exploration and Development at Gru- po Mexico, SA. de C.V. from 1994 to 1997, Alternate Director of Grupo México from 1998 to April 2002, Director of Grupo México since April 2002, Director of ASARCO Incorporated from November 1999 to August 2003 and its President from January 2000 to September 1, 2001. 

5.- OSCAR GONZÁLEZ ROCHA.  Chief Executive Of- ficer of SPCC since October 2004 and its President since December 1999. He has also been Director of SPCC since November 1999. Previously, he was Gen- eral Director and Chief Operating Officer of SPCC from December 1999 to October 20, 2004, Manag- ing Director for Mexicana de Cobre, S.A. de C.V. from 1986 to 1999, and for Mexicana de Cananea, S.A. de C.V. from 1990 to 1999. Alternate Director of Grupo Mexico from 1988 until April 2002 and 

Director of Grupo Mexico since May 2002. Director of ASARCO Incorporated from November 1999 to August 2003. 

6.- HAROLD HANDELSMAN.  Director of SPCC since August 2002. Executive Vice-President and General Counselor of The Pritzker Organization LLC, a private investment firm, since 1998. Mr. Handelsman has also been a Senior Executive Officer of the Hyatt Cor- poration since 1978, currently serving as Senior Vice- President, Secretary and General Counselor, and is Director of First Health Group Corp. (a managed care organization) and a number of private corporations. He received a B.A. degree from Amherst College in 1968 and a J.D. degree from Columbia University in 1973. 

7.- GENARO LARREA MOTA-VELASCO. Com- mercial Vice-President of SPCC from December 1999 until April 2002, and Director since November 1999. Commercial Managing Director of Grupo Mexico from 1994 to August 30, 2001, and Director from 1994 to date. He was Director of ASARCO Incorpo- rated from November 1999 to August 2003, and President of ASARCO Incorporated from September 1, 2001 until October 2003. Previously he was Direc- tor, Vice-President and Chief Commercial Officer of 

ASARCO Incorporated from November 1999 to Sep- tember 2001. 

8.- ARMANDO ORTEGA. Director of SPCC since August 2002. Legal Vice-President and Secretary of SPCC since April 25, 2002, has been General Counselor since October 2003. Previously, he was Assistant Secretary of the Company from July 25, 2001 to April 25, 2002, and Assistant Secretary of Asarco Incorporated until August 2003. General Counselor of Grupo Mexico since May 2001, and, previously, its Assistant Secretary. He headed the International Trade Practices Unit of the Ministry of Economy of Mexico with the rank of Deputy Vice- Minister from 1997 to May 2001, and was negotia- tor for international matters for said Ministry from 1998 to May 2001. 

9.- LUIS MIGUEL PALOMINO BONILLA. Director of SPCC since March 19, 2004. Principal and senior consultant of Proconsulta International, Maryland (a financial consulting firm) since 2003. Previously he was First Vice-President and Chief Economist, Latin America for Merrill Lynch Pierce Fenner & Smith, New York (investment banking) from 2000 to 2002. Chief Executive Officer, Senior Country and Equity Analyst at Merrill Lynch, Peru (investment banking) 

