KALU Kaiser Aluminum Corporation

Kaiser Aluminum Corporation (Nasdaq:KALU) today announced it has reached agreement in principle with Airbus to supply aluminum plate and sheet for use in the production of commercial aircraft. The multi-year agreement is subject to definitive documentation, will commence upon the completion of the companies' existing supply agreement, and will extend Kaiser Aluminum's longstanding role as a major supplier of high quality semi-fabricated aluminum products to Airbus.

"The commercial aerospace industry is poised for significant growth, and Airbus is positioned well to benefit from this strong demand," said Jack A Hockema, President, CEO and Chairman. "We are very pleased with the opportunity to continue as a strategic supplier of high-quality aluminum plate and sheet for their aerospace requirements and build on the strong, long-term relationship between our two companies.  Additionally, we are confident that our recently-launched KaiserSelect solutions will significantly contribute to Airbus's success."

Company Description

Kaiser Aluminum Corporation, headquartered in Foothill Ranch, Calif., is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The Company's North American facilities produce value-added sheet, plate, extrusions, rod, bar, tube and wire products, adhering to traditions of quality, innovation and service that have been key components of our culture since the Company was founded in 1946. The Company's stock is included in the Russell 2000® index and the S&P SmallCap 600® index.

The Kaiser Aluminum Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6081

Available Information

For more information, please visit the Company's web site at www.kaiseraluminum.com. The web site includes a section for investor relations under which the Company provides notifications of news or announcements regarding its financial performance, including Securities and Exchange Commission (SEC) filings, investor events, and earnings and other press releases. In addition, all Company filings submitted to the SEC are available through a link to the section of the SEC's web site at www.sec.gov which includes: Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and Proxy Statements for the Company's annual stockholders' meetings and other information statements as filed with the SEC. In addition, the Company provides a webcast of its quarterly earnings calls and certain events in which management participates or hosts with members of the investment community.

This press release contains statements based on management's current expectations, estimates and projections that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks and uncertainties that may cause actual results, performance or achievements of the Company to be materially different from those expressed or implied. Kaiser Aluminum cautions that such forward-looking statements are not guarantees of future performance or events and involve significant risks and uncertainties and actual events may vary materially from those expressed or implied in the forward-looking statements as a result of various factors. These factors include: (a) the ability to successfully negotiate definitive documentation; (b) material adverse changes in the commercial aerospace industry or economic or industry conditions generally, including global financial markets; (c) changes in the commercial aerospace market; (d) the Company's ability to continue to successfully develop and implement its KaiserSelect products; and (e) other risk factors summarized in the Company's reports filed with the Securities and Exchange Commission, including the Company's Form 10-K for the year ended December 31, 2010.

CONTACT: Investor Relations Contact:
         Melinda C. Ellsworth
         Kaiser Aluminum
         (949) 614-1757
         
         Public Relations Contact:
         Dave Quast
         Financial Dynamics
         (646) 421-5341