December 19, 2005

Kaiser Aluminum and Boeing Reach Long-Term Agreement to Supply Heavy Gauge Aluminum Plate for Commercial Aircraft

FOOTHILL RANCH, Calif. - December 19, 2005 - Kaiser Aluminum today announced the signing of a new long-term contract with Boeing to supply heavy gauge aluminum plate for use in Boeing commercial aircraft products. The multi-year contract is expected to significantly increase the amount of Kaiser Aluminum fabricated products used by Boeing produced at Kaiser's Trentwood, Washington rolling mill. "

Kaiser Aluminum and Boeing have a long history of partnership and this agreement further solidifies the long-term relationship between the two companies," said Jack A. Hockema, president and chief executive officer, Kaiser Aluminum. "We are witnessing a significantly increasing need for Kaiser's high-quality aluminum products in aerospace manufacturing. In response, we're stepping up our commitment to meet our customers' need for high-quality aluminum sheet and plate products."

Hockema added, "Kaiser and Boeing also share a long history as major employers in the state of Washington and this agreement was made possible by the previously announced, planned expansion of our Trentwood facility near Spokane."

Kaiser Aluminum recently announced a $75 million capital investment to expand its Trentwood facility including the addition of a state-of-the-art heavy gauge stretcher, horizontal heat treat furnaces and other ancillary equipment, such as an ultrasonic inspection system, to complement existing capabilities. The expansion is slated to proceed over the next three years with full online capacity available in 2008.

Boeing is the world's leading aerospace company and the largest combined manufacturer of commercial jetliners and military aircraft. With additional capabilities in rotorcraft, electronic and defense systems, missiles, rocket engines, satellites, launch vehicles and advanced information and communication systems, the company's reach extends to customers in 145 countries.

Kaiser Aluminum (OTCBB: KLUCQ) is a leading producer of fabricated aluminum products for aerospace and high-strength, general engineering, automotive, and custom industrial applications. The company has more than 2,000 employees and 11 plants in North America having the capacity to produce more than 400 million pounds annually of value-added sheet, plate, extrusions, forgings, rod, bar, and tube.

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