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EXHIBIT NO. 99.1: Press release of Alcan Aluminium Limited,
dated October 12, 2000
Press Release ALCAN LOGO
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FINAL RESULT OF ALCAN'S SHARE EXCHANGE OFFER
FOR THE SHARES OF ALGROUP
Montreal, Canada -- October 12, 2000 -- Alcan Aluminium Limited (NYSE, TSE: AL)
is pleased to report that during the additional acceptance period of Alcan's
Share Exchange Offer that ended yesterday, based upon a preliminary count,
6,757,415 shares in Alusuisse Group Ltd. (algroup) representing 99.52% of the
registered shares outstanding were tendered in acceptance of the Offer.
"We are very happy with the vote of confidence expressed by algroup shareholders
in tendering their shares, thus enabling the new Alcan to become a world leader
in aluminum and packaging," said Jacques Bougie, President and CEO of Alcan
Aluminium Limited.
Accordingly, Alcan will become the owner of 99.52% of algroup shares and algroup
will become a member of the Alcan Group. The exchange of 17.1 Alcan shares for
each algroup share tendered will take place on October 17, 2000. Thereafter,
Alcan will begin the process to obtain ownership of the remaining algroup
shares.
Algroup will be making a capital repayment and paying a special dividend of
CHF 90 and CHF 135 per algroup share, respectively, on October 13, 2000, to its
shareholders of record on that day.
Alcan is a multinational, market-driven, low-cost producer of aluminum products.
With operations in over 30 countries, Alcan is one of the most international
aluminum companies. It is a leading producer of primary metal and a global
producer and marketer of rolled aluminum products.
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Media Contact:
Marc Osborne (514) 848-1342
Investor Contact:
Michael Hanley (514) 848-8368
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