Exhibit 12.4

Alcan Inc.
Computation of Earnings to Combined Fixed Charges and Preferred Stock Dividends
US GAAP
(in millions of US dollars)

		YEAR
		3 months 2003	2002		2001			2000			1999			1998
Net income (loss) from continuing operations before cumulative effect of accounting change and extraordinary items		14		412		(42	)		606			455			417
Less:	Equity income of less than 50% owned companies	0		3		3			4			(1	)		(48	)
Plus:	Dividends received from less than 50% owned companies	0		3		2			1			1			5
Plus:	Minority interest of subsidiaries that have fixed charges	1		3		(13	)		(1	)		14			(4	)
Subtotal		15		415		(56	)		602			471			466
FIXED CHARGES
Amount representative of interest factor in rentals		7		27		24			19			19			28
Amount representative of interest factor in rentals, 50% owned companies		0		0		0			0			0			0
Interest expense - net		49		203		254			78			76			92
Interest expense, 50% owned companies		0		0		0			0			0			0
Capitalized interest		1		1		30			81			41			15
Capitalized interest, 50% owned companies		0		0		0			0			0			0
TOTAL FIXED CHARGES		57		231		308			178			136			135
Less:	Capitalized interest	1		1		30			81			41			15
Fixed charges added to income/(loss)		56		230		278			97			95			120
Plus:	Amortization of capitalized interest	6		24		25			21			18			15
Income taxes		145		313		13			259			211			210
Earnings before fixed charges and income taxes		222		982		260			979			795			811
TOTAL FIXED CHARGES		57		231		308			178			136			135
Preference dividends		2		5		8			10			9			10
1 minus statutory tax rate of 40%		0.6		0.6		0.6			0.6			0.6			0.6
Preference dividends pre tax		3		8		13			17			15			17
Total		60		239		321			195			151			152
Ratio of earnings to combined fixed charges and preferred stock dividends		3.70		4.11		0.81			5.03			5.26			5.35