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December 19, 2003

Goldcorp Invests In Planet Exploration Inc.

TORONTO, ONTARIO--GOLDCORP INC. (GG:NYSE; G:TSX) is pleased to announce that it
has purchased (as part of a non-brokered private placement) 1,800,000 units of
Planet Exploration Inc. ("Planet") (PXI:TSX Venture Exchange) at a price of
CDN$1.40 per unit. Goldcorp subscribed for such units on November 28, 2003 and
the transaction closed on December 15, 2003. Each unit consists of one common
share and one non-transferable common share purchase warrant providing the
right to purchase one common share at a price of CDN$2.00 per share until
December 15, 2005.

Goldcorp now owns 13.4% of the outstanding shares of Planet. Assuming Goldcorp
exercises the balance of its warrants, the Company will own 23.7% of Planet on
a partially diluted basis. These units were purchased for investment purposes.
Planet intends to use the proceeds of this private placement to fund its
ongoing exploration activities in Ontario, Mongolia, Mexico and China and for
general working capital purposes.

Goldcorp's Red Lake Mine is the richest gold mine in the world. The Company is
in excellent financial condition: has NO DEBT, a Large Treasury and Strong Cash
Flow and Earnings. GOLDCORP is completely UNHEDGED and pays a dividend twelve
times a year. Goldcorp's shares are listed on the New York and Toronto Stock
Exchanges under the trading symbols of GG and G, respectively and its options
trade on the American Stock Exchange (AMEX), the Chicago Board of Options
Exchange (CBOE) and the Pacific Stock Exchange (PCX) in the United States and
on the Montreal Exchange (MX) in Canada.