Ceramic Industry

Pechiney Announces Final Results Of Alcan Offer

January 12, 2004
On January 8, 2004, the French Autorité des marchés financiers released the definitive results of the offer launched by Alcan Inc. for the Pechiney securities. Taking into account Pechiney securities tendered during the re-opened period of the offer, more than 95% of the share capital of Pechiney on a fully diluted basis has been tendered into the offer. Therefore, Alcan will pay the following additional consideration to the Pechiney security holders who tendered their securities into the offer: €1 for each Pechiney share tendered, €0.1 for each Pechiney bonus allocation right tendered, €0.4 for each Pechiney OCEANE tendered, and €0.5 for each Pechiney ADS tendered.

For additional information, call (33) 15628-2507, fax (33) 15628-3338 or visit http://www.pechiney.com .