<PAGE>   1
                                  SCHEDULE 14A
                                 (Rule 14a-101)

                    INFORMATION REQUIRED IN PROXY STATEMENT
                            SCHEDULE 14A INFORMATION

  Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of
                                     1934

Filed by the registrant [X]

Filed by a party other than the registrant [_]

Check the appropriate box:
[_]      Preliminary Proxy Statement.
[_]      Confidential, for use of the Commission only (as permitted by 
         Rule 14a-6(e)(2)).
[X]      Definitive Proxy Statement
[_]      Definitive additional materials.
[_]      Soliciting material pursuant to Rule 14a-11(c) or Rule 14a-12.

-------------------------------------------------------------------------------

                          KAISER ALUMINUM CORPORATION
                (Name of Registrant as Specified in Its Charter)

-------------------------------------------------------------------------------


Payment of Filing Fee (Check the appropriate box):

[X]      No fee required.

[_]      Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 
         0-11.

         (1) Title of each class of securities to which transaction applies:

         (2) Aggregate number of securities to which transaction applies:

         (3) Per unit price or other underlying value of transaction computed
             pursuant to Exchange Act Rule 0-11 (set forth the amount on which
             the filing fee is calculated and state how it was determined):

         (4) Proposed maximum aggregate value of transaction:

         (5) Total fee paid:

[_]      Fee paid previously with preliminary materials.

[_]      Check box if any part of the fee is offset as provided by Exchange Act
         Rule 0-11(a)(2) and identify the filing for which the offsetting fee
         was paid previously. Identify the previous filing by registration
         statement number, or the form or schedule and the date of its filing.

         (1) Amount Previously Paid:

         (2) Form, Schedule or Registration Statement No.:

         (3) Filing Party:

         (4) Date Filed:



<PAGE>   2


   
    

                          KAISER ALUMINUM CORPORATION

                          5847 San Felipe, Suite 2600
                              Houston, Texas 77057

                               December 17, 1999





To the Stockholders:

         The written consent of the holders of Kaiser Aluminum Corporation's
Common Stock, par value $.01 per share (the "Common Stock"), of record at the
close of business on December 15, 1999, is requested in regard to an amendment
to Kaiser Aluminum Corporation's Restated Certificate of Incorporation as
described in the accompanying Consent Solicitation Statement. It is requested
that your written consent, using the accompanying Consent Card, be delivered to
Kaiser Aluminum Corporation at 5847 San Felipe, Suite 2600, Houston, Texas
77057 on or before January 6, 2000. An addressed return envelope is enclosed
for this purpose, which requires no postage if mailed in the United States.


                                      By Order of the Board of Directors,


                                      George T. Haymaker, Jr.
                                      Chairman of the Board and
                                      Chief Executive Officer


                                      Raymond J. Milchovich
                                      President and Chief Operating Officer



<PAGE>   3

                                
   
    

                          KAISER ALUMINUM CORPORATION
                          5847 SAN FELIPE, SUITE 2600
                              HOUSTON, TEXAS 77057

                         CONSENT SOLICITATION STATEMENT
                                      FOR
                      THE SOLICITATION OF WRITTEN CONSENTS
                     TO THE ADOPTION OF AN AMENDMENT TO THE

                     RESTATED CERTIFICATE OF INCORPORATION

         This Consent Solicitation Statement (the "Consent Statement") is
furnished to Stockholders (as defined below) by the Board of Directors (the
"Board") of Kaiser Aluminum Corporation, a Delaware corporation (the
"Company"), in connection with the solicitation by the Company of the written
consents of the Stockholders to the adoption of an amendment (the "Amendment")
to the Restated Certificate of Incorporation of the Company (the
"Certificate").

         The purpose of the Amendment is to increase the number of shares of
Common Stock which the Company shall have authority to issue by 25,000,000,
from 100,000,000 to 125,000,000, and, consequently, to increase the total
number of shares of all classes of stock which the Company shall have authority
to issue by 25,000,000, from 120,000,000 to 145,000,000. The Amendment is set
forth below under the heading "The Amendment".

         There is currently no specific transaction in which such additional
authorized shares of Common Stock will be issued. However, the availability of
an increased number of authorized shares of Common Stock would improve the
flexibility of the Company to issue Common Stock under the Company's employee
benefit plans, in connection with the raising of capital under the Company's
effective "shelf" registration statement covering equity securities of the
Company up to a maximum aggregate offering price of $150 million, and in
connection with other transactions that involve the issuance of Common Stock of
the Company. Subject to applicable laws and regulations, the Company does not
intend to solicit further authorization from the holders of Common Stock for
the issuance of the Common Stock authorized by the Amendment.

         The Company intends to distribute this Consent Statement and the
accompanying Written Consent of Stockholders (the "Consent Card") commencing on
or about December 17, 1999, to the holders of record as of the close of business
on December 15, 1999 (the "Record Date"), of the Company's Common Stock, par
value $.01 per share (the "Common Stock"), all such holders being collectively
referred to as the "Stockholders". Written consents of Stockholders representing
a majority of the outstanding shares of Common Stock at the Record Date are
required to approve the Amendment.

         The principal executive offices of the Company are located at 5847 San
Felipe, Suite 2600, Houston, Texas 77057, and the telephone number of the
Company is (713) 267-3777.

                                 The Amendment

         The first paragraph of Article FOURTH of the Certificate reads as
follows before giving effect to the Amendment:

                  "FOURTH: The total number of shares of all classes of stock
         which the corporation shall have authority to issue is ONE HUNDRED
         TWENTY MILLION (120,000,000) shares consisting of:

                  (a)      ONE HUNDRED MILLION (100,000,000) shares of the par
                           value of One Cent ($.01) per share, which shall be
                           designated Common Stock; and

                  (b)      TWENTY MILLION (20,000,000) shares of the par value
                           of Five Cents ($.05) per share, which shall be
                           designated Preferred Stock."


<PAGE>   4
         Pursuant to the Amendment, the foregoing first paragraph of Article
FOURTH of the Certificate would be deleted and replaced by the following:

                  "FOURTH: The total number of shares of all classes of stock
         which the corporation shall have authority to issue is ONE HUNDRED
         FORTY-FIVE MILLION (145,000,000) shares consisting of:

                  (a)      ONE HUNDRED TWENTY-FIVE MILLION (125,000,000) shares
                           of the par value of One Cent ($.01) per share, which
                           shall be designated Common Stock; and

                  (b)      TWENTY MILLION (20,000,000) shares of the par value
                           of Five Cents ($.05) per share, which shall be
                           designated Preferred Stock."

         THE BOARD HAS ADOPTED RESOLUTIONS WHICH SET FORTH THE AMENDMENT,
DECLARE THE ADVISABILITY OF THE AMENDMENT, AND SUBMIT THE AMENDMENT TO THE
STOCKHOLDERS FOR APPROVAL.  THE BOARD RECOMMENDS APPROVAL OF THE
AMENDMENT BY THE STOCKHOLDERS.

                             The Consent Procedure
   
         The Amendment is submitted for Stockholder approval by written
consent. No meeting of the Stockholders will be held to vote on this matter.
Only Stockholders are entitled to consent, to withhold their consent, or to
revoke their consent, to the Amendment. Stockholders are entitled to one
consent for each outstanding share of Common Stock held at the Record Date. As
of the Record Date there were 79,405,333 outstanding shares of Common Stock.
    

         Consents, once dated, signed, and delivered to the Company, will
remain effective unless and until revoked by written notice of revocation
dated, signed, and delivered to the Company at the address set forth below on
or before January 6, 2000.

         As of the Record Date, MAXXAM Inc. and one of its subsidiaries were
Stockholders and owned in the aggregate approximately 63% of the outstanding
Common Stock. Those Stockholders have indicated their intent to deliver to the
Company their written consents approving the Amendment. Accordingly, those
Stockholders hold sufficient shares of Common Stock to assure the approval of
the Amendment.

         The Amendment will be approved by the Stockholders on January 7, 2000,
if the Company then holds unrevoked written consents of Stockholders approving
the Amendment representing a majority of the outstanding shares of Common Stock
at the Record Date. Consequently, abstentions and broker non-votes would have
the effect of a vote against approval of the Amendment. Stockholders are
requested to indicate approval of the Amendment by signing and dating the
Consent Card, checking the box on the Consent Card which corresponds to the
approval of the Amendment, and delivering the Consent Card to the Company at the
address set forth below. Withholding of consent to the Amendment, or abstention
with respect to the approval of the Amendment, may be indicated by signing and
dating the Consent Card, checking the box which corresponds to withholding of
consent to the Amendment or abstention with respect to the approval of the
Amendment, respectively, and delivering the Consent Card to the Company at the
address set forth below. A Consent Card which has been signed, dated and
delivered to the Company without any of the boxes for approval, withholding of
consent, or abstention checked will constitute the Stockholder's consent to the
Amendment.

         Consent Cards may be delivered to the Company at the following
address:

                          Kaiser Aluminum Corporation
                              Attention: Secretary
                          5847 San Felipe, Suite 2600
                              Houston, Texas 77057

                                       2

<PAGE>   5

Consent Cards should be delivered to the Company as soon as possible for
receipt not later than January 6, 2000. An addressed return envelope is
enclosed for this purpose, which requires no postage if mailed in the United
States. Consent Cards and revocations of consents, if any, shall be deemed to
have been received by the Company upon actual delivery of such Consent Cards or
revocations to the Company at the above address.

         Stockholders who abstain from consenting with respect to the
Amendment, or who withhold consent to the Amendment, do not have the right to
an appraisal of their shares of Common Stock or any similar dissenter's rights
under applicable law.

                        Expense of Consent Solicitation

         The Company will bear the entire cost of the solicitation of
Stockholder approval of the Amendment, including the preparation, assembly,
printing and mailing of this Consent Statement and any additional material
furnished to Stockholders. In addition, the Company may reimburse certain
persons for their costs of forwarding the solicitation material to
Stockholders. The solicitation of consents by mail may be supplemented by
telephone, telegram and/or personal solicitation by directors, officers and/or
employees of the Company. No additional compensation will be paid for any of
such services. To assist in the solicitation process, the Company has retained
Corporate Investor Communications, Inc., at an estimated cost of approximately
$1,550, plus reasonable out-of-pocket expenses.

                              No Preemptive Rights

         No holder of shares of Common Stock is entitled as such, as a matter
of right, to subscribe for or purchase any part of any new or additional issue
of any stock of any class, series or kind whatsoever, or to subscribe for or
purchase securities convertible into stock of any class, series or kind
whatsoever.


         Security Ownership of Certain Beneficial Owners and Management

                            Ownership of the Company

         The following table sets forth, as of November 29, 1999, unless
otherwise indicated, the beneficial ownership of the Company's equity
securities by (i) those persons known by the Company to own beneficially more
than 5% of the shares of any class then outstanding, (ii) each of the directors
of the Company, (iii) each of the "named executive officers" of the Company (as
defined in Item 402(a)(3) of Regulation S-K), and (iv) all directors and
executive officers of the Company and Kaiser Aluminum & Chemical Corporation
("KACC"), the principal subsidiary of the Company, as a group.



<TABLE>
<CAPTION>
         
 
                     NAME OF
                  BENEFICIAL OWNER                      TITLE OF CLASS                  # OF SHARES(1)   % OF CLASS
                  ----------------                      ---------------                 -------------    ----------
<S>                                                     <C>                            <C>               <C> 
MAXXAM Inc.                                              Common Stock                  50,000,000(2)       63.0
Vanguard Windsor Funds - Windsor Fund                    Common Stock                   5,929,334(3)        7.5
Robert J. Cruikshank                                     Common Stock                       8,212(4)         *
George T. Haymaker, Jr.                                  Common Stock                     331,761(5)         *
Charles E. Hurwitz                                       Common Stock                     250,000(6)(7)      *
John T. La Duc                                           Common Stock                     323,871(5)         *
Ezra G. Levin                                            Common Stock                       6,212(6)         *
Raymond J. Milchovich                                    Common Stock                     316,840(5)         *
Geoffrey W. Smith                                        Common Stock                      63,600(5)         *
John H. Walker                                           Common Stock                         2,754          *
James D. Woods                                           Common Stock                           -0-          *
</TABLE>



                                       3

<PAGE>   6


<TABLE>
<S>                                                     <C>                            <C>               <C> 
All directors and executive officers of the Company      Common Stock                     1,678,005(8)       2.1
and KACC as a group (21 persons)
</TABLE>


------------------------------------

*     Less than 1%.

(1)   Unless otherwise indicated, the beneficial owners have sole voting and
      investment power with respect to the shares listed in the table. Also
      includes options exercisable within 60 days of November 29, 1999, to
      acquire such shares.

(2)   Includes 27,938,250 shares beneficially owned by MAXXAM Group Holdings
      Inc. ("MGHI"). As of November 29, 1999, such shares were pledged as
      security for $130.0 million principal amount of 12% Senior Secured Notes
      due 2003. An additional 7,915,000 shares of the Company's Common Stock
      were pledged by MAXXAM Inc. ("MAXXAM") under a separate agreement under
      which $16.0 million had been borrowed by MAXXAM as of October 31, 1999.
      In addition to the foregoing, MAXXAM has agreed to secure each $1.0
      million of borrowings with 400,000 shares of the Company's Common Stock
      under the terms of another $25 million credit facility ($2.5 million
      outstanding at October 31, 1999). The address of MAXXAM is 5847 San
      Felipe, Suite 2600, Houston, Texas 77057.

(3)   Information is based solely on the Schedule 13G filed with the SEC on
      February 10, 1999, by Vanguard Windsor Funds- Windsor Fund ("Vanguard")
      as a result of its ownership interest in the Company at December 31, 1998
      (the "Vanguard 13G"). The Vanguard 13G indicates that these shares are
      held of record by Vanguard and that Vanguard has sole voting power and
      shared dispositive power with respect to these shares. Vanguard's address
      is P.O. Box 2600, Valley Forge, Pennsylvania 19482. In addition,
      Wellington Management Company, LLP, a registered investment advisor
      ("Wellington"), filed a Schedule 13G with the SEC on February 10, 1999,
      as a result of its ownership interest in these shares at December 31,
      1998 (the "Wellington 13G"). The Wellington 13G indicates that Wellington
      does not have sole or shared voting power with respect to any of such
      shares and that Wellington has shared dispositive power with respect to
      all of such shares. Wellington's address is 75 State Street, Boston,
      Massachusetts 02109.

(4)   Includes options exercisable within 60 days of November 29, 1999, to
      acquire 6,212 shares of Common Stock.

(5)   Includes 275,366, 261,200, 196,700 and 20,240 options exercisable within
      60 days of November 29, 1999, to acquire shares of Common Stock, by
      Messrs. Haymaker, Milchovich, La Duc and Smith, respectively.

(6)   Represents only options exercisable within 60 days of November 29, 1999,
      to acquire such shares.

(7)   Excludes shares owned by MAXXAM. Mr. Hurwitz may be deemed to hold
      beneficial ownership in the Company as a result of his beneficial
      ownership in MAXXAM.

(8)   Includes options exercisable within 60 days of November 29, 1999, to
      acquire 1,273,498 shares of Common Stock.

                       Ownership of Parent of the Company

      As of November 29, 1999, MAXXAM owned, directly and indirectly,
approximately 63.0% of the issued and outstanding Common Stock of the Company.
The following table sets forth, as of November 29, 1999, the beneficial
ownership of the common stock and Class A $.05 Non-Cumulative Participating
Convertible Preferred Stock ("Preferred Stock") of MAXXAM by the directors of
the Company and by the directors and the executive officers of the Company and
KACC as a group.



<TABLE>
<CAPTION>
                      NAME OF                                                                            %         % OF COMBINED
                  BENEFICIAL OWNER              TITLE OF CLASS                    # OF SHARES(1)      OF CLASS      VOTING POWER
                  ----------------              ---------------                   -------------       --------     -------------
<S>                                             <C>                              <C>                 <C>           <C>
Charles E. Hurwitz                               Common Stock                    2,647,396(3)(4)(5)      37.6            69.2
                                                 Preferred Stock                   738,941(6)(7)         99.2
Ezra G. Levin                                    Common Stock                        2,475(4)(5)(*)        *              *
Robert J. Cruikshank                             Common Stock                        2,475(8)              *              *
All directors and  executive officers as a       Common Stock                    2,652,731(3)(4)(5)(9)   37.6            69.3
group (21 persons)                               Preferred Stock                   738,941(6)(7)         99.2
</TABLE>



                                       4

<PAGE>   7

------------------------------------

*     Less than 1%.

(1)   Unless otherwise indicated, beneficial owners have sole voting and
      investment power with respect to the shares listed in the table. Includes
      the number of shares such persons would have received on November 29,
      1999, if any, for their exercisable stock appreciation rights ("SARs")
      (excluding SARs payable in cash only) exercisable within 60 days of such
      date if such rights had been paid solely in shares of MAXXAM common
      stock.

(2)   MAXXAM Preferred Stock is generally entitled to ten votes per share on
      matters presented to a vote of MAXXAM's stockholders.

(3)   Includes 1,669,451 shares of MAXXAM common stock owned by Federated
      Development Inc. ("FDI"), a wholly owned subsidiary of Federated
      Development Company ("Federated"), as to which Mr. Hurwitz indirectly
      possesses voting and investment power. Mr. Hurwitz serves as a trustee of
      Federated, and together with members of his immediate family and trusts
      for the benefit thereof, owns all of the voting shares of Federated. Also
      includes (a) 34,845 shares of MAXXAM common stock separately owned by Mr.
      Hurwitz's spouse and as to which Mr. Hurwitz disclaims beneficial
      ownership, (b) 46,500 shares of MAXXAM common stock owned by the Hurwitz
      Investment Partnership L.P., a limited partnership controlled by Mr.
      Hurwitz and his spouse, 23,250 of which shares were separately owned by
      Mr. Hurwitz's spouse prior to their transfer to such limited partnership
      and as to which Mr. Hurwitz disclaims beneficial ownership, (c) 91,926
      shares of MAXXAM common stock owned by the 1992 Hurwitz Investment
      Partnership L.P., of which 45,963 shares are owned by Mr. Hurwitz's
      spouse as separate property and as to which Mr. Hurwitz disclaims
      beneficial ownership, (d) 700,645 shares of MAXXAM common stock held
      directly by Mr. Hurwitz, (e) 60,000 shares of MAXXAM common stock owned
      by Federated Development Investments, LLC, which is owned 79% by FDI and
      21% by Mr. Hurwitz, and of which FDI is the managing member ("FDILLC"),
      (f) options to purchase 21,029 shares of MAXXAM common stock held by FDI,
      and (g) options held by Mr. Hurwitz to purchase 23,000 shares of MAXXAM
      common stock within 60 days of November 29, 1999.

(4)   FDI, Federated, FDILLC, the Hurwitz Investment Partnership L.P., the 1992
      Hurwitz Investment Partnership L.P., Messrs. Hurwitz and Levin, and Mr.
      James H. Paulin, Jr., may be deemed a "group" (the "Stockholder Group")
      within the meaning of Section 13(d) of the Securities Exchange Act of
      1934, as amended (the "Exchange Act"). As of November 29, 1999, in the
      aggregate, the members of the Stockholder Group who are also officers or
      directors of the Company or KACC beneficially owned 2,649,871 shares of
      MAXXAM common stock and 738,941 shares of Preferred Stock, aggregating
      approximately 69.3% of the total voting power of MAXXAM. By reason of the
      foregoing and their relationship with the members of the Stockholder
      Group, Messrs. Hurwitz and Levin may be deemed to possess shared voting
      and investment power with respect to the shares held by the Stockholder
      Group.

(5)   Does not include shares owned by other members of the Stockholder Group.

(6)   Includes 661,377 shares owned by FDI as to which Mr. Hurwitz possesses
      voting and investment power and 1,064 shares held directly.

(7)   Includes options exercisable within 60 days of November 29, 1999, to
      acquire 76,500 shares of Preferred Stock.

(8)   Includes options exercisable within 60 days of November 29, 1999, to
      acquire 1,475 shares of MAXXAM common stock.

(9)   Includes (i) options exercisable within 60 days of November 29, 1999, to
      acquire 1,475 shares of MAXXAM common stock, and (ii) 135 shares of
      MAXXAM common stock which would have been received on November 29, 1999
      for 6,000 SARs exercisable within 60 days of such date, if such SARs had
      been paid solely in shares of MAXXAM common stock.

       Stockholder Proposals for the 2000 Annual Meeting of Stockholders

           The Company's Amended and Restated By-laws require that the Company
receive written notice of any proposals which stockholders intend to present at
the 2000 Annual Meeting (other than those submitted for inclusion in the
Company's proxy material pursuant to Rule 14a-8 of the Exchange Act), and any
nominations by stockholders of persons for election or reelection as directors
of the Company, by no earlier than February 19, 2000, and no later than March
20, 2000. The foregoing notice is required to set forth (i) as to each person
whom the stockholder proposes to nominate for election or reelection as a
director, all information relating to such person that is required to be
disclosed in solicitation of proxies for election of directors, or is otherwise
required, in each case, pursuant to Regulation 14A under the Exchange Act
(including such person's written consent to


                                       5


<PAGE>   8

being named in the proxy statement as a nominee and to serving as a director if
elected); and (ii) as to any other business that the stockholder proposes to
bring before the meeting, a brief description of such business, the reasons for
conducting such business at the meeting, and any material interest in such
business of the stockholder submitting the notice and the beneficial owner, if
any, on whose behalf the nomination or proposal is being made, as well as (a)
the name and address of such stockholder, as they appear on the Company's
books, and of such beneficial owner, if applicable, and (b) the class and
number of shares of the Company which are owned beneficially and of record by
such stockholder and such beneficial owner, if applicable. A copy of the
provision referred to above may be obtained, without charge, upon written
request to the Company's Secretary. Proposals intended to be presented at the
2000 Annual Meeting of Stockholders pursuant to Rule 14a-8 of the Exchange Act
must be received by December 21, 1999, in order to be included in the Company's
proxy statement and form of proxy relating to that meeting. Any stockholder
proposals or nominations must be sent to the Company's Secretary at the
Company's executive offices at 5847 San Felipe, Suite 2600, Houston, Texas
77057.

                                          By Order of the Board of Directors


                                          John Wm. Niemand II
                                          Secretary



December 17, 1999
Houston, Texas


                                       6

<PAGE>   9

================================================================================


                               TABLE OF CONTENTS


<TABLE>
<S>                                                                      <C>
Letter to the Stockholders
Consent Solicitation Statement for the Solicitation
     of Written Consents to the Adoption of an
     Amendment to the Restated Certificate of
     Incorporation
         The Amendment...............................                    1
         The Consent Procedure.......................                    2
         Expense of Consent Solicitation.............                    3
         No Preemptive Rights........................                    3
         Security Ownership of Certain Beneficial
              Owners and Management..................                    3
              Ownership of the Company...............                    3
              Ownership of Parent of 
                    the Company......................                    4
         Stockholder Proposals for the 2000
              Annual Meeting of Stockholders.........                    5
</TABLE>



================================================================================




                                   [KAC Logo]





================================================================================


                         CONSENT SOLICITATION STATEMENT
                                      FOR
                      THE SOLICITATION OF WRITTEN CONSENTS
                       TO THE ADOPTION OF AN AMENDMENT 
                                     TO THE
                     RESTATED CERTIFICATE OF INCORPORATION


================================================================================







                                   IMPORTANT

                         PLEASE COMPLETE, SIGN AND DATE
                         YOUR WRITTEN CONSENT PROMPTLY
                     AND RETURN IT IN THE ENCLOSED ENVELOPE





<PAGE>   10

   
    

                                   APPENDIX A

                        WRITTEN CONSENT OF STOCKHOLDERS
                          KAISER ALUMINUM CORPORATION
              THIS CONSENT IS SOLICITED BY THE BOARD OF DIRECTORS



WHEN PROPERLY EXECUTED, THIS CONSENT WILL BE VOTED AS DESIGNATED BY THE
UNDERSIGNED ON THE REVERSE SIDE. IF THIS CONSENT IS SIGNED, DATED, AND
DELIVERED TO KAISER ALUMINUM CORPORATION WITH NO DESIGNATION BY THE UNDERSIGNED
ON THE REVERSE SIDE, THIS CONSENT WILL CONSTITUTE THE STOCKHOLDER'S CONSENT TO
AND APPROVAL OF THE AMENDMENT.

PLEASE SIGN NAME(S) EXACTLY AS PRINTED HEREON.  EXECUTORS, ADMINISTRATORS,
TRUSTEES, GUARDIANS, AND ATTORNEYS SHOULD GIVE FULL TITLE AS SUCH.  WHEN
SHARES ARE HELD JOINTLY, ALL SHOULD SIGN.  IF THE SIGNER IS A CORPORATION, SIGN
FULL CORPORATE NAME BY DULY AUTHORIZED OFFICER.  IF THE SIGNER IS A
PARTNERSHIP, SIGN IN THE NAME OF THE PARTNERSHIP BY AN AUTHORIZED PERSON.
IF SHARES ARE HELD IN MORE THAN ONE CAPACITY, THIS CONSENT SHALL BE DEEMED
VALID FOR ALL SHARES HELD IN ALL CAPACITIES.

-----------                                                          -----------
SEE REVERSE                                                          SEE REVERSE
   SIDE                                                                 SIDE
-----------                                                          -----------
                  (TO BE SIGNED AND DATED ON THE REVERSE SIDE)

[X] PLEASE MARK AS IN THIS SAMPLE.

MARK ONLY ONE OF THE FOLLOWING THREE BOXES:

[ ] The undersigned, a holder of Common Stock, par value $.01 per share, of
Kaiser Aluminum Corporation as of the close of business on December 15, 1999,
hereby CONSENTS TO AND APPROVES of the amendment to the first paragraph of
ARTICLE FOURTH of the Restated Certificate of Incorporation of Kaiser Aluminum
Corporation as set forth under the heading "The Amendment" in the Consent
Solicitation Statement dated December 17, 1999. 

[ ] The undersigned, a holder of Common Stock, par value $.01 per share, of
Kaiser Aluminum Corporation as of the close of business on December 15, 1999,
hereby WITHHOLDS CONSENT TO AND DOES NOT APPROVE of the amendment to the first
paragraph of ARTICLE FOURTH of the Restated Certificate of Incorporation of
Kaiser Aluminum Corporation as set forth under the heading "The Amendment" in
the Consent Solicitation Statement dated December 17, 1999.

[ ] The undersigned, a holder of Common Stock, par value $.01 per share, of
Kaiser Aluminum Corporation as of the close of business on December 15, 1999,
hereby ABSTAINS from consenting to and approving the amendment to the first
paragraph of ARTICLE FOURTH of the Restated Certificate of Incorporation of
Kaiser Aluminum Corporation as set forth under the heading "The Amendment" in
the Consent Solicitation Statement dated December 17, 1999.


Signature:             Date:             Signature:              Date:
          -----------        --------               ------------        --------