Kaiser Aluminum Raises Prices on Selected Flat-Rolled Products

HOUSTON, Texas, April 11, 2000 -- Kaiser Aluminum & Chemical Corporation, the operating subsidiary of Kaiser Aluminum Corporation (NYSE:KLU), announced that it has raised prices by 5% on 6000-series flat-rolled products.

The price increase applies to all transactions not covered by a firm contract price. The increase is effective with new orders placed on or after April 10, 2000 regardless of ship date and all shipments on or after May 1, 2000 regardless of order entry date.

Kaiser Aluminum is a leading producer of alumina, primary aluminum, and fabricated aluminum products. MAXXAM Inc. (AMEX:MXM) directly and indirectly holds approximately 63 percent of the common stock of Kaiser Aluminum Corporation.