Aluminum Corporation of China Limited Announces its 2008 Annual Results, Turnover Amounted to RMB76.7 Billion

The Board of Directors of Aluminum Corporation of China Limited ( "Chalco" or "the Company"; SEHK: 2600, SE: 601600, NYSE: ACH) is pleased to announce the annual results of the Company and its subsidiaries (the "Group") for the year ended December 31, 2008 ("2008"). Prices of products of the Group have been declining due to the international financial crisis. The turnover of the Group in 2008 amounted to RMB76.7 billion, representing a decrease of 9.92% over the same period of last year. The net profit amounted to RMB 158 million, representing a decrease of 98.7% over the same period of last year. Earnings per share attributable to the equity holders of the Company was RMB 0.00068.

When reviewing the results for the first half of 2008, Mr Luo Jianchuan, Executive Director and President of Chalco said: "In 2008, the disasters including snow storm and earthquake in the PRC, international financial crisis, raw material price hikes and sharply decreasing sale prices of products posed unprecedented difficulties and challenges to the Groups production and operation. The Group adopted effective countermeasures, strengthened its management, reduced energy consumption, tapped potentials, increased efficiency, controlled costs and fees, stabilized supply, strengthened sales and monitored investment to enable a stable operation of the Groups production and business."

In 2008, the production volume of alumina of the Company reached RMB 9.02 million tonnes, representing a decrease of 5.8% over the corresponding period last year; the production volume of primary aluminum reached 3.25 million tonnes, representing an increase of 16.1% over the corresponding period last year; the production volume of aluminum fabrication products reached 0.353 million tonnes, representing an increase of 341.3% over the corresponding period last year.

In 2008, the Group strengthened financial management and control of costs and fees, leveraged capital market opportunities to optimize debt structures. The Company issued medium-term bonds for a principal amount of RMB 10 billion with a maturity of 3 to 5 years, and short-term debenture amounted to RMB5 billion.

The Group further reinforced resource protection in 2008 and spared no effort in accelerating the pace of mine construction, strengthening ore procurement and production and improving safety and reliability of ore supply and comprehensive utilization of resources. In 2008, contribution of self-mining mines increased by approximately 11 percentage points as compared to the corresponding period last year. Furthermore, the Group acquired the mining rights of 20 bauxite mines with a bauxite reserve of 120 million tonnes, which increased the self-mining capacity of bauxite by 3.46 million tonnes.

The Group continued to optimize industry chain to enhance risk resistance in 2008. Acquisitions of five aluminum fabrication enterprises and one aluminum enterprise had been completed, paving the way to avoid the risk of industry cycle and improve comprehensive competitiveness.

Looking ahead, Mr. Luo Jianchuan said: "In light of the slackening global economic growth, significant decline in demand for aluminum and plummeting aluminum prices, the Company will actively address the current market environment to accomplish tasks. The Company will strengthen the production structure, promote flexible and streamlined production in accordance with the principles for maximizing efficiency. The Company will continue executing the cost reduction and efficiency boosting in the whole process, optimise technological and economical indicators, and reduce consumption of materials and energies so as to fully cut down costs. The Company will enhance capital budgeting and expenditure management to ensure cash flow; and the control on capital risks will be enhanced. The Company will strictly control investments, optimise investment structure and arrange a tightened project plan. The Company also aims to improve its core competitiveness by executing technology strategies. We will make the greatest efforts to achieve our goals as a return to our shareholders."

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