Aluminium Pechiney and SUAL recently announced that they have reached agreement to enter into substantive negotiations for the joint development of a bauxite, alumina, aluminum complex in the Komi Republic, in the Russian Federation. Following agreement, both companies will undertake the necessary studies regarding the project to develop a new 1.4 million tonnes per year alumina refinery and smelter with the capacity of up to 500,000 tonnes per year. SUAL's existing Timan bauxite deposit and its Timan railroad will be used as the resource base and transport infrastructure for the complex. Subject to successful negotiations and to achieving favorable results of the technical, environmental and financial studies, the project will be developed and implemented jointly.

For additional information, call (33) 15628-2508 or fax (33) 15628-3338. Pechiney's website is located at http://www.pechiney.com .