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[Wachsam]

January 24, 2005

Monthly Update to Customers, Employees, Suppliers, and Friends of Kaiser Aluminum:

In Today’s Hearing

With two key issues being covered in specially scheduled hearings during the month of January, today’s regularly scheduled monthly hearing addressed mainly routine matters.

Special Hearings

The special hearings represent two major milestones in our restructuring. First, after considering the evidence presented at the January 18 hearing, the Court has issued an order approving the PBGC settlement. Second, the Court is scheduled to begin three days of hearings on January 31 on our previously announced Intercompany Settlement Agreement.

Timing of POR and Disclosure Statement

While agreement was not forthcoming in December, we continue to move closer to reaching consensus with our major creditors on the principal elements of the Kaiser Plan of Reorganization and Disclosure Statement so that we can file these documents with the Court within the next few months.

New Financing Arrangement

Many of you probably saw our January 15 announcement that we have signed a commitment letter with JPMorgan and The CIT Group regarding a replacement for our existing Debtor-in-Possession (DIP) financing, which expires on February 13, and a commitment for a multi-year exit financing facility. The new arrangement has been designed to provide us with the size, terms, and flexibility that we expect to need as we complete our reorganization and look ahead to our future as a highly competitive fabricated products company. The exit financing, in particular, is expected to enable Kaiser to emerge from Chapter 11 with a sound financial profile and the liquidity necessary to support continued growth. We have asked the Court to schedule a hearing on this matter for February 2.

Liquidity

Liquidity – defined as cash and borrowing availability – has continued to be adequate. Assuming Court approval of our new DIP on February 2, we expect to make a smooth transition to the new facility and to retain comparable borrowing availability, which has been near or above the $100 million range.

Jack A. Hockema
President and Chief Executive Officer

[ooy]

Aktionaere werden wohl mal wieder leer ausgehen.

[Wachsam]

Davon das Aktionäre leer ausgehen ist in dem oben
genannten Arikel nicht beschrieben. Im Gegenteil,
hier wird von 2 wichtigen Meilensteinen in der
Restruktierung gesprochen.

[Wachsam]

Ich denke das diese Aktie in einigen Wochen
bei 1,00 Euro steht.

[hainholz]

da bist du nicht der einzige
heute nochmal günstig nachlegen!!!!

[hainholz]

Quick Quote: KLUCQ 0.10 (Even)




Kaiser Aluminum Files Term Sheet Concerning Resolution of Personal Injury Claims
1/28/05

HOUSTON, Jan 28, 2005 (BUSINESS WIRE) --
Kaiser Aluminum has filed with the U.S. Bankruptcy Court for the District of Delaware a term sheet executed on January 26 between Kaiser and other parties concerning the resolution and treatment of personal injury claims and demands within the context of a Plan of Reorganization (POR) that the company expects to file within the next several months.

The term sheet was filed as an attachment to a proposed amendment to Kaiser`s pending Intercompany Settlement Agreement (ISA), which is the subject of Bankruptcy Court hearings scheduled to begin on February 1. As a result of the execution of the term sheet, the proposed amendment, and certain other agreements, all parties either have withdrawn or will withdraw their objections to the ISA.

Parties to the term sheet, in addition to Kaiser, are the Unsecured Creditors Committee, the United Steelworkers of America, the Pension Benefit Guaranty Corporation, the Official Committee for Asbestos Claimants, the Representative for Future Asbestos Claimants, and the Representative for Future Silica and Coal Tar Pitch Volatiles Claimants.

Broadly speaking, the term sheet contains the following elements: -- The company`s POR will provide for the creation of a trust or trusts that will be funded as described and will assume the liability for covered personal injury claims (as defined), with appropriate channeling injunctions pursuant to Sections 524(g) and Section 105 of the Bankruptcy Code to become effective upon confirmation of the POR. -- Covered personal injury claims include asbestos claims and demands, silica claims and demands, coal tar pitch volatiles claims and demands, and noise-induced hearing loss claims. Assets to be contributed to the trust(s) will include: -- Proceeds from future postpetition insurance settlements for covered personal injury claims, through the effective date of the POR, together with the amounts currently held in Court-established escrow accounts; -- Rights to proceeds under certain insurance policies as to covered personal injury claims; -- Assumption by the trust(s) of the responsibility for and right to control litigation and settlement of insurance coverage litigation for covered personal injury claims after consummation of Kaiser`s POR; -- $13 million in cash from the company; -- Distributions in respect of 75% of the prepetition, unsecured intercompany claim held by Kaiser Finance Corporation (KFC) against Kaiser Aluminum & Chemical Corporation (KACC), which shall be in the form of equity of the reorganized Kaiser Aluminum; -- 100% of the stock of a subsidiary of KACC, whose sole asset will be a piece of real property that produces modest rental income.
The term sheet also expressly acknowledges that there are conditions precedent to the POR, including Bankruptcy Court approval of the proposed ISA with the proposed amendment to the ISA, and that there are other terms of the pending POR that have not been agreed upon by certain of the parties. In addition, the proposed amendment to the ISA is subject to approval by the lenders under the company`s current Debtor-in-Possession credit facility.

Kaiser Aluminum (OTCBB:KLUCQ) is a leading producer of fabricated aluminum products and owns interests in alumina and primary aluminum.

[hainholz]

Kaiser Aluminum Obtains Approval of Intercompany Settlement Agreement
HOUSTON

Kaiser Aluminum, Houston
Scott Lamb, 713-332-4751

Kaiser Aluminum announced that the U.S. Bankruptcy Court for the District of Delaware, in a hearing today, approved the Intercompany Settlement Agreement (ISA).

The ISA, as previously announced, resolves the treatment of intercompany claims among the Kaiser debtor entities arising from pre-petition and post-petition intercompany transactions among the various entities. Additional information in respect of the ISA is included in the company`s Form 10-Q for the period ending Sept. 30, 2004.

"The ISA demonstrates that the company has reached common ground with the vast majority of its significant creditors," said Jack A. Hockema, Kaiser`s president and chief executive officer. "We are gratified that all of the major creditor constituencies were able to come to agreement on these complex issues in a positive and productive way," he said.

"In conjunction with the commitment letter for our new financing arrangement, Court approval of our settlement with the Pension Benefit Guaranty Corporation, and last week`s term sheet addressing the mechanisms for resolving personal injury claims, we believe the company has now passed another major milestone in our path to emergence from Chapter 11," he said .

"We intend to build on the momentum established today and resolve our remaining issues on an expedited basis so that we can file our Plan of Reorganization and Disclosure Statement within the next few months," said Hockema.

Separately, the Court indicated it will hold a hearing to consider approval of Kaiser`s new Debtor-in-Possession and exit financing arrangement on Feb. 8.

Kaiser Aluminum (OTCBB:KLUCQ) is a leading producer of fabricated aluminum products and owns interests in alumina and primary aluminum.

Company press releases may contain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The company cautions that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those expressed or implied in the forward-looking statements as a result of various factors. Actual events could differ materially from those reflected in the forward-looking statements contained in this press release as a result of various factors including, but not limited to, the actual timing for resolution of remaining issues and the subsequent filing of a Plan of Reorganization and Disclosure Statement.





Copyright © 2005 Business Wire. All reproduction, other than for an individual user`s reference, is prohibited without prior written permission.
News Copyright © 2005 Interest!ALERT All rights reserved.

[hainholz]

Kaiser Aluminum Corp. Schneller Anführungsstrich: KLUCQ 0.09 (Gleichmäßig) Kaiser Aluminium erreicht Gericht-Zustimmung der Freigabe Aussagen für Tonerde-Tochtergesellschaften 2/23/05 HOUSTON, Feb 23, 2005 (GESCHÄFT LEITUNG) -- Kaiser Aluminium verkündete, daß, wenn etwas erklärende Änderungen heute an einer verkündet sind Hörfähigkeit das VEREINIGTE STAATEN Konkursgericht für den Bezirk von Delaware die geänderten Freigabe Aussagen für zwei verschiedene liquidierende Pläne in bezug auf die Tochtergesellschaften genehmigt hat, durch die die Firma bestimmte Tonerdebetriebe in Jamaika und in Australien geleitet hat. Die Firma erwartet, geänderte Pläne und die Freigabe Aussagen einzuordnen, die diese Änderungen innerhalb der nächsten Tage enthalten. Keine der Änderungen wird erwartet, um irgendwelche der vorgeschlagenen Verteilungen zu beeinflussen, die vorher in den vorherigen eingeordneten Dokumenten enthalten werden. Das erste ist für den liquidierenden Plan in bezug auf Alpart Jamaica Inc. (AJI) und Kaiser Jamaica Corporation (KJC), durch die die Tochtergesellschaften Kaiser Aluminum & Chemical Corporation (KACC) seine Interessen an den Tonerde-Partnern von Jamaika (Alpart) besaß, eine Teilhaberschaft, die eine Bauxitbergbaubetrieb und -tonerderaffinerie besitzt und laufen läßt, die in Jamaika gelegen ist. Wie vorher verkündet, verkauften AJI und KJC ihre Interessen an Alpart an Juli 1, 2004. Die zweite Freigabe Aussage ist für den liquidierenden Plan in bezug auf Kaiser Alumina Australia Corporation (KAAC) und Kaiser Finance Corporation (KFC). Eine insgesamt besessene Tochtergesellschaft von KACC, KAAC besitzt ein 20% Interesse an der begrenzten Queensland Tonerde (QAL), die eine Tonerderaffinerie besitzt und laufen läßt, die in Australien gelegen ist. KACC und KAAC erwarten, auf dem Verkauf ihrer Interessen an QAL zu Rusal um das Ende des ersten Viertels zu schließen oder früh am zweiten Viertel von 2005. KFC ist eine insgesamt besessene Tochtergesellschaft von KAAC. Seine Primärwerte sind KACC`s andere Tochtergesellschaften intercompany Darlehen zu KACC und sicher. Zustimmung dieser Freigabe Aussagen kennzeichnet den Punkt, von dem Marketing und das Wählen auf den liquidierenden Plänen anfangen können. Das Gericht hat eine Hörfähigkeit festgelegt, um an April 13 anzufangen, confirmation/approval der zwei liquidierenden Pläne zu betrachten. Separat hat das Gericht eine Verlängerung die Periode von Exklusivität durch April 30 für AJI, KJC, KAAC und KFC -- und durch Juni 30 für KACC und die restlichen Kaiser Wesen genehmigt. Kaiser Aluminium (OTCBB:KLUCQ) ist ein führender Produzent der fabrizierten Aluminiumprodukte und besitzt Interessen an der Tonerde und am Primäraluminium. Firmapressekommuniquã©s können Aussagen enthalten, die "das Vorwärts-Schauen von von Aussagen" innerhalb der Bedeutung der privaten Sicherheiten Rechtsstreit-Verbesserung-Tat von 1995 festsetzen. Die Firma warnt, daß irgend solche Vorwärts-schauende Aussagen nicht Garantien der zukünftigen Leistung sind und bedeutende Gefahren und Ungewißheiten miteinbeziehen und daß tatsächliche Resultate von denen materiell schwanken können, die in den Vorwärts-schauenden Aussagen resultierend aus verschiedenen Faktoren ausgedrückt werden oder angedeutet sind. QUELLE: Kaiser Aluminium Kaiser Aluminium, Houston Scott Lamm, 713-332-4751 Geschäft Leitung 2005 Des Copyright-(c). Alle Rechte vorbehalten. © Stockgroup 2005 Media Inc. | Verzicht KLUCQ Gibt SHfn Frei Kaiser Aluminium erreicht Gericht-Zustimmung der Freigabe Aussagen für Tonerde-Tochtergesellschaften Kaiser Aluminium erreicht Gericht-Zustimmung der neuen Finanzierung Anordnung Kaiser Aluminium erreicht Zustimmung des Intercompany Abfindungsvertrages Kaiser Aluminium ordnet die Konditionenvereinbarung hinsichtlich ist der Auflösung der Personenschäden-Ansprüche ein Kaiser Aluminium ordnet die Gericht-Bewegung betreffend ist Zusageschreiben für neue Finanzierung Anordnung ein Technisches Handelndes Tagebuch

[Wachsam]

Das Tal sollte in Kürze erreicht sein ?

[UH1d]

Heute noch News?

[Wachsam]

Der Kurs ist ausgesetzt und keiner merkt es !

[hainholz]

http://www.stockhouse.com/comp_info.asp?symbol=KLUCQ&table=L…

[Wachsam]

Ich denke am Montag knallt es hier gewaltig.

Ich wollte heute in Berlin nachkaufen und wurde
darauf hingewiesen, das kein Handel möglich sei !

[hainholz]

Kann drin liegen,das sie vorzeitig Chapter 11 Verlassen

[Wachsam]

Ich muß ja sagen, das Warten hätte sich dann gelohnt !

[hainholz]

July 2005



Kaiser Aluminum Contributes to Solar Car Effort

FOOTHILL RANCH, California -- Kaiser Aluminum sheet, plate, and extrusions serve as key components for a solar-powered vehicle christened “Momentum” that is competing in the 2005 North American Solar Challenge Race that began yesterday in Austin, Texas and is scheduled to conclude 2,500 miles later in Calgary, Alberta on July 27.

Through its contributions of cash and materials, Kaiser serves as a “gold level” sponsor of the University of Michigan Solar Car Team, which built and is racing Momentum. The Michigan Solar Car Team is a non-profit, student-run organization whose purpose is to design, finance, build and race a solar powered vehicle in several competitions across the US and the world.

Momentum is a lightweight, low-power vehicle designed and built with a single purpose in mind - racing. It has limited seating (for one), very little cargo capacity, can only be driven during the day, and has a top speed of about 65 miles per hour. Despite those kinds of present-day limitations, Momentum and other solar cars offer an excellent opportunity to develop future technologies that can be applied to practical applications.

The race is open to any North American college or university, and approximately 20 teams fielded vehicles for this year’s Solar Challenge.

“Kaiser is honored to support the University of Michigan team,” said Theodore DiGuiseppe, Kaiser Aluminum`s Vice President and General Manager of Automotive & Industrial Products. “The team shares our view of the innovative things that can be done with aluminum in ground transportation applications. Kaiser has long been a key supplier to the automotive industry, and our support of this program is just a natural for us.”

Kaiser materials are used in suspension and chassis and body structural components including control arms, mounting brackets, seat frame, and motor mount system.

[hainholz]

Kaiser Aluminum Delivers Strong Improvement in Third Quarter 2005 Earnings


Third Quarter Highlights
• Total operating income for continued operations increases to $15.0 million
• Fabricated products operating income of $24.5 million doubles results from Q3 2004
• Fabricated products operating income reached $62.7 million for the first nine
months, an almost threefold increase over the same period in 2004
FOOTHILL RANCH, Calif. – November 14, 2005 — Kaiser Aluminum today reported
significantly improved third quarter earnings. Operating income for the third quarter of
2005 was $15.0 million. In 2004, a $160.5 million operating loss occurred in the third
quarter and included a $155.0 million charge related to pension plans assumed by the
Pension Benefit Guaranty Corporation as part of the company’s Chapter 11
reorganization. The current year result reflects significant improvement in the fabricated
products business segment, where operating income of $24.5 million was approximately
double the level of the prior year period. Improved earnings from continuing operations
of the primary aluminum segment and lower ongoing corporate general and
administrative expense from the restructuring of ongoing retiree obligations also
contributed to the improved 2005 results.
For the first nine months of 2005, operating income was $32.0 million. A $175.2 million
operating loss occurred for the first nine months of 2004. The year-over-year change
reflects significant improvement in business performance as well as the large third
quarter 2004 pension charge noted above. Fabricated products operating income reached
$62.7 million for the first nine months of 2005, an almost threefold increase over the
same period in 2004. Year-to-date 2005 earnings from continuing operations of the
primary aluminum segment also were improved, while corporate general and
administrative expense was lower primarily for the reasons discussed above.
Year-over-year changes in income or loss from continuing operations, both for the third
quarter and first nine months, primarily reflect the operating income improvements
described previously. For the third quarter of 2005, income from continuing operations
was $3.9 million contrasted with a $173.2 million loss in the third quarter of 2004. For
the first nine months, a current year loss from continuing operations of $5.0 million
compares with a $210.6 million prior year loss.
In addition to the comparisons previously described, several significant items related to
actions taken by the company during its Chapter 11 reorganization also affect the net
income comparisons. Such items are reported as results from discontinued operations
and are described below. Third quarter 2005 net income was $11.9 million. By
comparison, the third quarter 2004 net loss was $69.5 million and included a $101.6
million net gain from the sale of the company’s interest in and related to Aluminum Partners of Jamaica (Alpart). For the first nine months of 2005, net income of $381.9
million includes a $365.6 million net gain from the second quarter sale of the company’s
interest in Queensland Alumina Limited. For 2004, the nine-month $109.3 net loss
benefited from a second quarter sale of the Mead, Wash. smelter facility for a $23.4
million net gain as well as the Alpart sale.
“We are very pleased with this quarter’s results, especially with the continued
improvement achieved in our fabricated products business,” said Jack A. Hockema,
president and CEO. “For the second time this year, the initial time occurring in the first
quarter, fabricated products earnings have reached levels not seen since the 1998-2000
time frame. We are seeing the benefits of staying focused on improving the operations
and market position of our core business, while at the same time executing a difficult and
lengthy restructuring process for Kaiser.”
Net sales for third quarter 2005 grew to $272 million, an 11 percent increase from 2004,
and for the first nine months grew to $816 million, a 19 percent increase from the same
period last year.
“Although most of our volume growth this year occurred in the first quarter, we have
continued to see the benefit from higher pricing, especially for conversion prices which
represent the increment customers pay for value added in fabricated products over
underlying metal cost,” Hockema said. He added, “We’re also experiencing a notable
product mix improvement due to strong aerospace demand and very favorable market
conditions in heat treat plate products. In view of the strong foundation we have built
from our exemplary service to the heat treat plate market segment, we are taking steps to
capitalize on our position by making a major investment in this business.”
Kaiser Aluminum last week announced a $75 million expansion of the Trentwood
facility, located near Spokane, Washington. The expansion will increase the company’s
capacity for producing sheet and plate products and add the capability to manufacture
heavy gauge stretched heat treat plate in thicknesses of up to 8-10 inches.
On September 8, 2005, the U.S. Bankruptcy Court for the District of Delaware approved
the company`s Disclosure Statement related to its Second Amended Plan of
Reorganization (POR). Solicitation of the votes of creditors is underway and is
scheduled to be completed in mid-November. The court has scheduled a POR
confirmation hearing for January 9, 2006 and January 10, 2006. Assuming POR
confirmation, including U.S. District Court affirmation, at or near that time, it is possible
the company could emerge from Chapter 11 during the first quarter of 2006.
Kaiser Aluminum Corporation is a leading producer of fabricated aluminum products for
aerospace and high-strength, general engineering, automotive, and custom industrial
applications.
Company press releases may contain statements that constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act of 1995,
including without limitation statements regarding the future economic performance and
financial condition of Kaiser, the status and progress of the company`s reorganization, the
plans and objectives of the company`s management and the company` assumptions
regarding such performance and plans. Kaiser cautions that any such forward-looking
statements are not guarantees of future performance and involve significant risks and
uncertainties, and that actual results may vary materially from those expressed or implied
in the forward-looking statements as a result of various factors. Actual events could
differ materially from those reflected in the forward-looking statements contained in this
press release as a result of various factors, including but not limited to those relating to:
obtaining requisite approval of the POR by creditors; obtaining confirmation of the POR
by the Bankruptcy Court and affirmation of confirmation by the U.S. District Court and
thereafter consummating the POR; competition in the industry in which Kaiser operates;
the loss of Kaiser`s customers or changes in the business or financial condition of such
customers; conditions in the markets in which Kaiser operates; economic, regulatory and
political factors in the foreign countries in which Kaiser operates, services customers or
purchases raw materials; unplanned business interruptions; increases in the cost of raw
materials Kaiser uses; rising energy costs; Kaiser`s hedging program; expiration of the
power agreement of Anglesey; Kaiser`s loss of key personnel or inability to attract such
personnel; employee relations; pending asbestos-related legislation; Kaiser`s compliance
with health and safety, environmental and other legal regimes; environmental and other
legal proceedings or investigations affecting Kaiser; Kaiser`s ability to implement new
technology initiatives; Kaiser`s ability to protect proprietary rights to technology; and
other risks described in the Disclosure Statement, a copy of which is posted on the
company`s website.

KAISER ALUMINUM CORPORATION AND SUBSIDIARY COMPANIES
(Debtor-in-Possession)
STATEMENTS OF CONSOLIDATED INCOME (LOSS)
(Unaudited)
(In millions of dollars, except share and per share amounts)

Quarter Ended
September 30 , Nine months Ended
September 30,
2005 2004 2005 2004


$ $ $ $
Net Sales 271.6 244.4 815.9 684.7
Costs and expenses:
Cost of product sold 233.7 217.5 710.0 620.0
Depreciation and amortization 4.9 5.9 15.0 16.9
Selling, administrative, research and development, and general Other operating charges (1) 17.7 236.8 52.4 68.3
Total costs and expenses 256.6 404.9 783.9 859.9
Operating income (loss) 15.0 (160.5) 32 175.2
Other income (expense):
Interest expense (excluding
unrecorded contractual interest expense of $23.7 for both quarters and $71.2 for both nine-month periods) (1.0) (2.4) (4.2) (6.5)
Reorganization items (8.2) (10.0) (25.3) (28.9)
Other - net (.5) 1.2 (1.5) 5.3
Income (loss) before income taxes and discontinued operations 5.3 (17.1) 1.0 (205.3)
Provision for income taxes (2) (1.4) (1.5) (6.0) (5.3)
Income (loss) from continuing operations 3.9 (173.2) (5.0) (210.6)
Discontinued operations: (2) (3) Income (loss) from discontinued operations, net of income taxes, including minority interests 8.0 2.1 21.3 (23.7)
Gain from sale of commodity interests, net of income taxes of $8.5 in 2005 – 101.6 365.6 125.0
Income from discontinued operations 8.0 103.7 386.9 101.3
Net income (loss) 11.9 69.5 381.9 109.3
Income (loss) per share –
Basic/Diluted: (4)
Income (loss) from continuing
operations $
.05 $
(2.17) $
(.06) $
(2.64)
Income from discontinued
operations $
.10 $
1.30 $
4.85 $
1.27
Net income (loss) $
.15
$
(.87) $
4.79 $
(1.37)
Weighted average shares outstanding (000): (4)
Basic/Diluted 79,672 79,815 79,676 79,858



Notes Follow
(1) Other operating charges for the quarter and nine month periods ended September 30, 2005 included charges totaling $.3 and $5.9, respectively, associated with the 2004 portion of the Company`s defined contribution plans, which were implemented in March 2005 (Fabricated products business unit: $.2 for the quarter and $5.4 for the nine month period, and Corporate: $.1 for the quarter and $.5 for the nine month period). Other operating charges for the nine month period ended September 30, 2005, also included a charge totaling $.6 related to termination of the Houston, Texas administrative office lease in connection with the combination of the Corporate headquarters into the existing Fabricated products
headquarters. Other operating charges for the quarter and nine month periods ended September 30, 2004 included pension charges of $155.5 related to pension plans whose responsibility was assumed by the Pension Benefit Guaranty Corporation (Corporate).


(2) Provision for income taxes for continuing operations for the quarters ended September 30, 2005 and 2004, relates primarily to foreign income taxes. For the quarters ended September 30, 2005 and 2004, as a result of the Cases, the Company did not recognize any U.S. income or any tax benefits for the losses incurred from its domestic operations (including temporary differences) or any U.S. tax benefit for foreign income taxes. Instead, the increases in federal and state deferred tax assets as a result of the additional net operating losses and foreign tax credits generated in 2005 and 2004 were fully offset by increases in the valuation allowances.
Results of operations for discontinued operations were net of income tax (benefit) provision of $(.7) and $2.8 for the quarters ended September 30, 2005 and 2004, respectively, and $12.0 and $15.1 for the nine month periods ended September 30, 2005 and 2004, respectively. The gain on sale of the Company’s commodity-related interests for the nine month period ended September 30, 2005 (which is also a part of discontinued operations), includes approximately $8.5 of alternative minimum tax (“AMT”) estimated to be payable in the United States as a result of the Company’s sale of its interests in and related to QAL. If the Company and/or the four Liquidating Subsidiaries emerge from bankruptcy during 2005 (see Note 1 of Notes to Interim Consolidated Financial Statements in the Company`s Quarterly Report on Form 10-Q for the quarter ended September 30, 2005), certain of the tax attributes would likely be available to reduce the AMT provision recorded during the nine months ended September 30, 2005.


(3) The Company sold its interests in and related to Alpart, Gramercy, KJBC, Valco and the Mead Facility in 2004. The Company completed the sale of its interests in and related to QAL in April 2005. In accordance with Generally Accepted Accounting Principles, the operating results of these interests are reported as Discontinued operations. Results from discontinued operations for the quarter and nine month periods ended September 30, 2005 and 2004 include the following significant items. Additional information with regard to Discontinued operations is included in Note 4 of Notes to Interim Consolidated Financial Statements in the Company`s Quarterly Report on Form 10-Q for the quarter ended September 30, 2005.



Quarter Nine months
2005 2004 2005 2004


Gain on sale of - $ $ $ $
QAL interests - - 365.6 -
Alpart interests - 101.6 - 101.6
Mead properties - - - 23.4
Valco impairment charge - - - (33.0)

(4) Income (loss) per share may not be meaningful, because as a part of a plan of reorganization, it is likely the interests of the Company`s existing stockholders will be cancelled without consideration. See Note 2 of Notes to Interim Consolidated Financial Statements in the Company`s Quarterly Report on Form 10-Q for the quarter ended September 30, 2005.



KAISER ALUMINUM CORPORATION AND SUBSIDIARY COMPANIES
(Debtor-in-Possession)
SELECTED OPERATIONAL AND FINANCIAL INFORMATION
(Unaudited)
(In millions of dollars, except shipments and prices)

Quarter Ended
September 30 , Nine months Ended
September 30,
2005 2004 2005 2004
Shipments (mm lbs)

Fabricated Products 120.7 117.9 365.2 341.0
Primary Aluminum 38.8 40.3 115.7 117.5
159.5 158.2 480.9 458.5


Average Realized Third-Party Sales Price (
per pound) :

Fabricated Products(1) $ 1.95 $ 1.79 $ 1.94 $ 1.72
Primary Aluminum (2) $ .92 $ .85 $ .93 $ .83



Net Sales:
Fabricated Products $ 235.9 $ 210.4 $ 707.7 $ 587.4
product Aluminum 35.7 34.0 108.2 97.3
Total Net Sales $ 271.6 $ 244.4 $ 815.9 $ 684.7


Segment Operating Income (Loss)3)
Fabricated Products $ 24.5 $ 12.3 $ 62.7 $ 21.1
Primary Aluminum 6.2 3.4 17.9 11.9
Corporate and Other (15.4) (21.5) (42.1) (53.5)
Other Operating Charges(4) (0.3) (154.7) (6.5) (154.7)
Total Operating Income (loss) $ 15.0 $ (160.5) $ 32.0 $ (175.2)
Discontinued operations(5) $ 11.9 $ (69.5) $ 381.9 $ (109.3)
Capital expenditures (excluding discontiinued operations) $ 11.8
$ 1.9 $ 20.4 $ 4.5



(1) Average realized prices for the Company`s Fabricated products business unit are subject to fluctuations due to changes in product mix as well as underlying primary aluminum prices and are not necessarily indicative of changes in underlying profitability.
(2) Average realized prices for the Company`s Primary aluminum business unit excludes hedging revenues.
(3) The Company changed its segment presentation in 2004 to eliminate the "Eliminations" segment as the primary purpose for such segment was to eliminate the intercompany profit on sales by the Primary aluminum and Bauxite and alumina business units, substantially all of which are now considered Discontinued operations. Eliminations not representing Discontinued operations are now included in segment results. Operating results for the Primary aluminum business unit in quarter and nine month periods ended September 30, 2004 are after the elimination of $.3 and $1.0, respectively. See Note 14 of Notes to Interim Consolidated Financial Statements in the Company`s Quarterly Report on Form 10- Q for the quarterly period ended September 30, 2005 for additional information with regard to segment information.
(4) See Note 11 of Notes to Interim Consolidated Financial Statements in the Company`s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2005, for information regarding Other operating charges.
(5) See Note 3 of Statements of Consolidated Income (Loss) for a discussion of results from discontinued operations.



KAISER ALUMINUM CORPORATION AND SUBSIDIARY COMPANIES
(Debtor-in-Possession)
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In millions of dollars)



September 30, 2005 December 31, 2004
Assets(1)(2) $ $
Current assets(3) 270.6 291.3
Discontinued operations` current assets .4 30.6
Investments in and advances to unconsolidated affiliate 16.2 16.7
Property, plant, and equipment - net 218.5 214.6
Restricted proceeds from sale of commodity interests 680.6 280.8
Personal injury-related insurance recoveries receivable 965.5 967.0
Other assets 46.0 42.5
Discontinued operations` long-term assets (2) - 38.9
Total $ 2,197.8 $ 1,882.47




Liabilities & Stockholders` Equity (Deficit) (1) (2)


Liabilities not subject to compromise - $ $
Current liabilities (4) 168.2 191.2
Discontinued operations` current liabilities (2) 17.2 57.7
Long-term liabilities 41.1 32.9
Long-term debt 1.2 2.8
Discontinued operations` liabilities (liabilities subject to compromise) (2) 26.4 26.4
Liabilities subject to compromise 3,949.8 3,954.9
Minority interests .7 .7
Commitments and contingencies
Stockholders` equity (deficit) (2,006.8) (2,384.2)
Total $ 2,197.8 $ 1,882.4



(1) The Company and 25 of its subsidiaries have filed petitions for reorganization under Chapter 11 of the United States Federal Code. The balance sheet as of September 30, 2005, has been prepared on a "going concern" basis, which contemplates the realization of assets and liquidation of liabilities in the ordinary course of business; however, as a result of the Chapter 11 filings, such realization of assets and liquidation of liabilities are subject to a significant number of uncertainties. Specifically, but not all inclusive, the balance sheet does not present: (a) the realizable value of assets on a liquidation basis or the availability of such assets to satisfy liabilities, (b) the amount which will ultimately be paid to settle liabilities and contingencies which may be allowed or (c) the effect of any changes which may be made in connection with the Company`s capitalization or operations resulting from a plan of
reorganization.
The Company, KACC, and 19 of their subsidiaries filed a plan of reorganization and disclosure
statement in September 2005. The Company has begun the solicitation process for plan approval. Such
process is expected to be completed in mid-November 2005. The Court has set November 16, 2005 as
the date by which objections to the plan must be filed and January 9, 2006 and January 10, 2006 as
dates for Plan confirmation.
U pon emergence from the Chapter 11 proceedings, the Company expects to apply "fresh start" accounting to its consolidated financial statements as required by AICPA Statement of Position 90-7, Financial Reporting by Entities in Reorganization Under the Bankruptcy Code. As such, the Company will restate its balance sheet to equal the reorganization value as determined in its plan(s) of reorganization and approved by the Court. Because fresh start accounting will be adopted at emergence, and because of the significance of liabilities subject to compromise (that will be relieved upon emergence), comparisons between the current historical financial statements and the financial statements upon emergence may be difficult to make. See Note 1 of Notes to Interim Consolidated Financial Statements of the Company`s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2005 for additional information regarding the Company`s Chapter 11 proceedings.
(2) Information with regard to Discontinued operations is included in Note 4 of Notes to Interim Consolidated Statements in the Company`s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2005.
(3) Includes Cash and cash equivalents of $43.3 and $55.4 at September 30, 2005 and December 31, 2004, respectively.
(4) Includes Current portion of long-term debt of $1.2 at September 30, 2005 and December 31, 2004.

[hainholz]

Kaiser Aluminum lands big Boeing deal
12/19/2005

FOOTHILL RANCH, Calif., Dec 19, 2005 (UPI via COMTEX) --
Boeing Co.`s recent streak of big sales to global airlines is lifting the prospects of the U.S. manufacturing sector.

Kaiser Aluminum Corp., a large but bankrupt California-based aluminum parts manufacturer, said Monday it signed a long-term supply agreement with the aerospace company.

The deal is expected to increase significantly the amount of heavy gauge aluminum plates the Chicago-based company will buy from Kaiser`s Trentwood, Wash., plant.

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.

Kaiser Aluminum has more than 2,000 employees and 11 plants in North America and has the capacity to produce more than 400 million pounds of aluminum annually.

Last month a majority of Kaiser Aluminum`s creditors approved its second amended plan of reorganization.

www.upi.com

Copyright 2005 by United Press International

[hainholz]

ist am ausbrechen in USA

Quick Quote: 0.09 (+ 0.028) KLUCQ

da geht es wohl aufs Ende von Chapter 11