Alcan Inc. recently announced that its withdrawal offer ("offre publique de retrait") opened on January 23, 2004, as a required step for it to acquire all remaining Pechiney securities in accordance with French securities regulations. The withdrawal offer will open for 10 French trading days until February 5, and will be followed on February 6 by a compulsory acquisition ("retrait obligatoire"), by which Alcan will become the owner of the remaining Pechiney shares, Bonus Allocation Rights and OCEANEs it does not already own. Alcan will deposit an amount representing the aggregate consideration to be paid in the compulsory acquisition with Société Générale, for distribution in accordance with the provisions of French securities regulations.

For additional information, call (514) 848-8368 or e-mail corey.copeland@alcan.com .