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June 21, 2004
Monthly Update to Customers, Employees, Suppliers, and Friends of Kaiser Aluminum:
In Today’s Court Hearing
The most noteworthy item was approval of a motion that describes bidding procedures regarding the previously announced sale of the Gramercy, Louisiana, facility to a joint venture of Century and Noranda. The bidding procedures would come into play only if the company receives at least one competing qualified bid by July 6. If so, Kaiser would then conduct an auction on July 8. We would then expect the Court to rule on the winning bid at the regularly scheduled hearing on July 19.
Motion Filed on Potential Sale of QAL Interest
On June 18, the company filed a motion with the Court that describes the process for the potential sale of Kaiser's interest in the QAL alumina refinery in Australia. The motion is subject to Court approval and no assurances can be given on the outcome.
Liquidity
The company’s recent liquidity continues to be adequate.
Jack A. Hockema
President and Chief Executive Officer
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