8-K

                                    FORM 8-K
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                           ---------------------------




                CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934



        Date of Report (date of earliest event reported): August 20, 2003


                           KAISER ALUMINUM & CHEMICAL
                                   CORPORATION
             (Exact name of Registrant as Specified in its Charter)



                                    DELAWARE
                 (State or other jurisdiction of incorporation)



                                     1-3605
                            (Commission File Number)



                                   94-0928288
                     (I.R.S. Employer Identification Number)





      5847 SAN FELIPE, SUITE 2500
            HOUSTON, TEXAS                          77057-3268
(Address of Principal Executive Offices)            (Zip Code)


                                 (713) 267-3777
              (Registrant's telephone number, including area code)



Item 5.    Other Events

      On August 20, 2003, Kaiser Aluminum & Chemical Corporation issued a press
release in the form attached hereto as Exhibit 99.1, which press release is
incorporated herein by reference.

Item 7.    Financial Statements and Exhibits

      (c)  Exhibits

           *Exhibit 99.1:  Press release dated August 20, 2003

- ---------------------------

*  Included with this filing

                                   SIGNATURES


      Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.



                                    KAISER ALUMINUM & CHEMICAL
                                    CORPORATION
                                           (Registrant)


                                    By:   /s/ Daniel. D. Maddox
                                          Daniel D. Maddox
                                          Vice President and Controller

Dated:  August 20, 2003

                                  EXHIBIT INDEX


Exhibit 99.1:   Press release dated August 20, 2003

EX-99

                                                                    Exhibit 99.1

For information:  Scott Lamb
Telephone:  (713) 332-4751                                       August 20, 2003


               KAISER ALUMINUM CREDIT AGREEMENT AMENDMENT BECOMES
                                    EFFECTIVE

         HOUSTON, Texas, August 20, 2003 -- Kaiser Aluminum said the previously
disclosed sixth amendment to its existing Credit Agreement has become effective.

         The sixth amendment increases availability by approximately $45 million
and extends the term of the Credit Agreement by one year, to February 2005.
Although Kaiser is targeting emergence from Chapter 11 in 2004, the company had
sought a full one-year extension of the Credit Agreement, in part, to provide
customers and suppliers with assurance that financing is committed well into the
future.

         Kaiser Aluminum Corporation (OTCBB:KLUCQ) is a leading producer of
fabricated aluminum products, alumina, and primary aluminum.

                                      F-958

                  Company press releases may contain statements that constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. The company cautions that any such
forward-looking statements are not guarantees of future results and involve
significant risks and uncertainties, and that actual results may vary materially
from those expressed or implied in the forward-looking statements as a result of
various factors.