Montreal, Canada — Alcan Inc. (NYSE, TSX: AL) has learned that an exchange offer has been made in relation to the Company's Common Shares by an organization identified as Front Street Gold Performance Fund (the "Fund"). The Fund is apparently offering an undetermined amount of its units in exchange for Alcan Common Shares.
Alcan is not in any way associated with this offer or with the Fund, which is completely unknown to Alcan. The Fund has never contacted Alcan in connection with this exchange offer.
Alcan in no way recommends or endorses this exchange offer.
Alcan is a multinational, market-driven company and a global leader in aluminum and packaging with 2002 revenues of US$12.5 billion. With world-class operations in primary aluminum, fabricated aluminum as well as flexible and specialty packaging, Alcan is well positioned to meet and exceed its customers' needs for innovative solutions and service. Alcan employs 48,000 people and has operating facilities in 38 countries.
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