Alcan announces intention to sell interest in the Utkal joint venture

      MONTREAL, April 12 /PRNewswire-FirstCall/ - Alcan announced today its intention to sell its 45% interest in India's Utkal Alumina International Limited (Utkal). The joint venture was established in 1992 and involves development of a new bauxite mine and alumina refinery in the Indian state of Orissa (Utkal Project). Alcan has already taken initial steps leading to the sale process and expects completion during the second quarter of 2007.

"Alcan is committed to sustainable and profitable growth that maximizes value for its shareholders," said Jacynthe Cote, President and CEO, Alcan Bauxite and Alumina. "The Company will keep a strong focus on growing and executing its pipeline of projects in bauxite-rich regions, which will leverage its world-leading alumina refining technology," continued Cote. "We have carefully weighed the opportunity and risk presented by the Utkal Project and, given constraints within the governance structure that limit Alcan's ability to participate in key decisions, believe that we have acted in the best interests of all our stakeholders."

Alcan Inc. is a leading global materials company, delivering high quality products and services worldwide. With world-class technology and operations in bauxite mining, alumina processing, primary metal smelting, power generation, aluminum fabrication, engineered solutions as well as flexible and specialty packaging today's Alcan is well positioned to meet and exceed its customers' needs. Alcan is represented by 68,000 employees, including its joint-ventures, in 61 countries and regions, and posted revenues of US$23.6 billion in 2006. The Company has featured on the Dow Jones Sustainability World Index consecutively since 2003. Statements made in this press release document which describe the Company or management's objectives, projections, estimates, expectations or predictions may be "forward-looking statements" within the meaning of securities laws. All statements that address the Company's expectations about the future including statements about objectives, operations or results are forward-looking statements that may be based on the Company's own research and analysis. The Company cautions that, by their nature, forward-looking statements involve risk and uncertainty and that the Company's actual actions or results could differ materially from those expressed or implied in such forward-looking statements or could affect the extent to which a particular projection is realized. Reference should be made to the Company's most recent Quarterly Report on Form 10-Q or Annual Report on Form 10-K for a list of factors that could cause such differences.

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