Kaiser Aluminum Corporation Announces Exchange Offer for 8.250% Senior Notes due 2020

　　Kaiser Aluminum Corporation (Nasdaq:KALU) announced today the commencement of an exchange offer pursuant to which it is offering to exchange up to $225,000,000 in aggregate principal amount of its 8.250% Senior Notes due 2020 (the "Exchange Notes"), which have been registered under the Securities Act of 1933 (the "Act"), for an equal aggregate principal amount of its unregistered outstanding 8.250% Senior Notes due 2020 (the "Original Notes"). The Original Notes were issued on May 23, 2012 in a transaction exempt from registration under the Act. The terms of the Exchange Notes will be substantially identical to the terms of the Original Notes, except that the Exchange Notes will be registered under the Act and will not be subject to restrictions on transfer or provisions relating to special interest applicable to the Original Notes. The Exchange Notes will bear a different CUSIP or ISIN number from the Original Notes and will not entitle their holders to registration rights.

　　The terms and conditions of the exchange offer for the Original Notes are set forth in a prospectus dated August 8, 2012 and the related letter of transmittal. The exchange offer will expire at 5:00 p.m., New York City time, on September 11, 2012, unless extended or earlier terminated (such date and time, as the same may be extended, being the "Expiration Time"). Except in the limited circumstances described in the prospectus, any and all Original Notes that are validly tendered in the exchange offer and not validly withdrawn prior to 5:00 p.m., New York City time, on September 11, 2012, the Expiration Time, will be accepted for exchange.

　　This press release is for informational purposes only and is not an offer to purchase any Original Notes or sell any Exchange Notes or a solicitation of an offer to sell any Original Notes or purchase any Exchange Notes. The exchange offer is being made only pursuant to a prospectus and letter of transmittal that have been filed with the Securities and Exchange Commission (the "SEC") as part of Kaiser Aluminum Corporation's Registration Statement on Form S-4 (File No. 333-182809). The Registration Statement was declared effective by the SEC on August 8, 2012.

　　Wells Fargo Bank, National Association, has been appointed as exchange agent for the exchange offer. Questions and requests for assistance and requests for additional copies of this prospectus or of the letter of transmittal should be directed to the exchange agent addressed as follows:

　　By Registered Certified or Regular Mail or Overnight Courier or Hand Delivery:

　　Wells Fargo Bank, National Association

　　608 2nd Avenue South, 12th Floor

　　MAC: N9303-121

　　Minneapolis, MN 55402

　　Attention: Bondholder Communications

　　By Facsimile Transmission (Eligible Institutions Only):

　　(612) 667-9825

　　By Telephone:

　　(800) 344-5128

　　Company Description

　　Kaiser Aluminum Corporation, headquartered in Foothill Ranch, Calif., is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The Company's North American facilities produce value-added sheet, plate, extrusions, rod, bar, tube and wire products, adhering to traditions of quality, innovation and service that have been key components of our culture since the Company was founded in 1946. The Company's stock is included in the Russell 2000? index and the S&P Small Cap 600? index.