Alcan Joins Rio Tinto to Form Global Leader in Aluminum

Alcan Inc. has officially joined Rio Tinto to create a global sector leader in aluminum. The new company will be known as Rio Tinto Alcan. Headquartered in Montreal, Rio Tinto Alcan has 73,000 employees in 61 countries and regions worldwide (including joint ventures).

The offer for Alcan Inc., which was recommended by the Alcan Board, was announced by Rio Tinto on July 12, 2007, and has received approvals from relevant authorities and governments globally and the support of Rio Tinto shareholders.

On November 14, 2007, Rio Tinto announced that Rio Tinto Canada Holding Inc. (“RTCH”), an indirect wholly owned subsidiary of Rio Tinto, had acquired all of the common shares of Alcan Inc. (“Alcan”) not already owned by exercising its right under the compulsory acquisition provisions of the Canada Business Corporations Act (“CBCA”). RTCH is now the registered holder of 100 percent of the outstanding shares of Alcan.

“Rio Tinto’s strategy is to create shareholder value through investing in high-quality, long-life, low-cost assets, and Alcan is a terrific addition to the Rio Tinto group,” said Rio Tinto Chief Executive Tom Albanese.

The new Rio Tinto product group will be led by Dick Evans, based in Montreal, and Evans will report directly to Albanese. “With our attractive cost position, strong technology portfolio, complementary refining and smelting assets, and a strong growth pipeline, Rio Tinto Alcan’s mission is to create maximum sustainable value for Rio Tinto shareholders and to fulfill our mutual commitments to all of our stakeholders.”

Both Rio Tinto and Alcan have been recognized as leading stewards of the environment and the communities in which they operate, and as organizations which place worker safety at the top of the priority list. Both Albanese and Evans stressed that these driving philosophies will continue.

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