8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

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

Date of Report (date of earliest event reported): July 29, 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 July 29, 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
*  99.1 Press Release dated July 29, 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
Dated: July 30, 2004		Daniel D. Maddox
		Vice President and Controller

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EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release dated July 29, 2004

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EX-99.1

Exhibit 99.1

For Information: Scott Lamb
Telephone: (713) 332-4751 July 29,2004

 
KAISER ALUMINUM NOTIFIED BY PBGC OF TERMINATION
OF INACTIVE PENSION PLAN

     HOUSTON, Texas, July 29, 2004 — Kaiser Aluminum said that it has been notified by the Pension Benefit Guaranty Corporation (PBGC) that the PBGC intends to assume responsibility for the Kaiser Aluminum Inactive Pension Plan retroactive to June 30, 2004.

     The Inactive Plan generally covers hourly retirees who were represented by unions at several smaller Kaiser plants where operations were discontinued a number of years ago.

     The PBGC’s action was not unexpected. In February 2004, Kaiser had obtained a ruling from the U.S. Bankruptcy Court for the District of Delaware that the company met the legal requirements for a distress termination of the Inactive Plan and several other plans. The PBGC has appealed some portions of that ruling but not with respect to the Inactive Pension Plan. The company and the PBGC continue to be in discussions concerning the status of the other plans.

     The PBGC assumed responsibility for Kaiser’s salaried employee pension plan in December 2003.

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

F-988

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 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.

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