Baotou Aluminium Co. and Aluminium Pechiney have reached an agreement for the construction of a new production unit for high-purity aluminum at Baotou (Inner Mongolia), China. This project relies on the patented Pechiney technology for segregation of high-grade aluminum to produce high-purity aluminum, mainly used in the manufacture of electronic components and capacitors. Aluminium Pechiney and Baotou Aluminium will have a respective ownership of 51% and 49% of the joint venture company. The total amount of the investment is estimated at $13 million (U.S.). Construction of the new unit is expected to start in fall 2003; production is expected to begin in October 2004, with an initial production capacity of 5000 tons of 4N aluminum.

For more information, call (33) 15628-2507, fax (33) 15628-3338, e-mail Pechiney-IR-Team@pechiney.com or visit http://www.pechiney.com .