Alcan Increases Ownership Stake in Aluminium Company of Malaysia 2003/10/08

Montreal, Quebec — Alcan Inc. (NYSE, TSX: AL), a global leader in aluminum and packaging, announced that it has increased its ownership position in Aluminium Company of Malaysia (KLSE: ALCOM) from 36% to 60%. The Company is a manufacturer of light gauge aluminum products. Alcan acquired the additional shares from Nippon Light Metal (TSX: 5701) in exchange for its ownership in Alcan Nikkei Siam Limited in Rangsit, Thailand. "Alcan is pleased to further reinforce our strategic relationship with ALCOM and demonstrate our commitment to meeting the increasing demands for value-creating and quality light gauge aluminum products in Southeast Asia," said Martha Brooks, President Alcan Rolled Products Americas and Asia. "Additionally, this will support and complement the Alcan packaging business in Asia." ALCOM, a major provider of light gauge aluminum rolled products in Malaysia and Southeast Asia, employs 360 people at its Bukit Raja operation located near Kuala Lumpur. The facility, established in 1960, utilizes low-cost continuous cast technology for rolling light gauge foil used primarily in the packaging and heat exchanger industries. The ALCOM operation has an extensive capability for coating light gauge rolled products — a process that enhances performance and aesthetics of its foil used in air conditioning. "This is another example of Alcan’s focus on high-value opportunities that maximize value for all Company stakeholders as well as strengthen our competitive position in growth markets such as Asia,” stated Brooks. Alcan is a multinational, market-driven company and a global leader in aluminum and packaging, as well as aluminum recycling 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 54,000 people and has operating facilities in 42 countries. - 30 - Media contact Joseph Singerman +1 514 848-1355 Pat Persico +1 440 423-6522 Investor contact Corey Copeland +1 514 848-8368

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