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): April 21, 2004

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
(Address of Principal Executive Offices) 77057-3268
(Zip Code)

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

Item 5. Other Events

     On April 21, 2004, 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 April 21, 2004

* 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
Dated: April 23, 2004		Vice President and Controller

EXHIBIT INDEX

Exhibit 99.1: Press release dated April 21, 2004

EX-99.1

Exhibit 99.1

For Information: Scott Lamb
Telephone: (713) 332-4751 April 21, 2004

KAISER ALUMINUM ANNOUNCES RUSAL AS SUCCESSFUL BIDDER FOR ALPART INTERESTS

     HOUSTON, Texas, April 21, 2004 — Kaiser Aluminum announced that RUSAL was the successful bidder for Kaiser’s interests in and related to Alpart, a partnership that owns bauxite mining operations and an alumina refinery in Jamaica, with an offer providing a base purchase price of $295 million prior to certain adjustments.

     Kaiser made the determination in consultation with the Unsecured Creditors Committee and others at the conclusion of yesterday’s auction, which had been ordered by the U.S. Bankruptcy Court for the District of Delaware.

     Kaiser’s agreement to sell its interests in Alpart is subject to the conditions cited below. Kaiser expects the Court to rule on the agreement on April 26. The company has targeted a closing date on the transaction near the end of the second quarter of 2004.

     As previously disclosed, under Alpart’s existing partnership arrangement, Hydro Aluminium a.s., which currently owns the remaining 35% of Alpart, retains the right — for 30 days following Kaiser’s receipt of Court approval of any sale transaction — to elect to purchase Kaiser’s interests at the price specified in any agreement approved by the Court.

     As discussed more fully in its Form 10-K for 2003, Kaiser is working with the lenders under its Post-Petition Credit Agreement to obtain an amendment to the Credit Agreement that, among other things, would permit the sale of the company’s interests in and related to Alpart.

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

F-982

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

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future performance 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. Actual events could differ materially from those reflected in the forward-looking statements contained in this press release as a result of various factors, including but not limited to those relating to approval of the sale by the United States Bankruptcy Court for the District of Delaware and by the lenders under Kaiser’s Post-Petition Credit Agreement, as well as the satisfaction of the other conditions (including certain conditions related to the Government of Jamaica) contained in the definitive documentation providing for the sale. As a result, no assurance can be given as to whether or when the sale will occur.

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