Exhibit 99.1

For Information:  Scott Lamb
Telephone:  (713) 332-4751                                January 13, 2003

            KAISER ALUMINUM ANNOUNCES INDEFINITE CURTAILMENT OF MEAD
             SMELTER; COMPANY TO RECORD RELATED CHARGES IN FINANCIAL
                                     RESULTS

      HOUSTON, Texas, January 13, 2003 -- Kaiser Aluminum today announced the
indefinite curtailment of its Mead, Washington, aluminum smelter.

      In conjunction with the decision, Kaiser expects to record in its results
for the fourth quarter of 2002 significant non-cash pre-tax charges to write
down the carrying value of its Northwest smelter assets and to recognize the
impact of pension and post-retirement obligations for hourly employees who had
been on layoff status and will become eligible to elect early retirement
beginning in the first quarter of 2003.

      "The indefinite curtailment at Mead is due to continuing unfavorable
market dynamics, specifically unattractive long-term power prices and weak
aluminum prices - both of which are significant impediments for an older smelter
with a higher-than-average operating cost," said Jack A. Hockema, President and
Chief Executive Officer of Kaiser Aluminum. "We had previously hoped that
conditions would be right for at least a partial restart of Mead in the first
quarter of 2003, but that does not appear to be likely. If and when
circumstances change, it is feasible that Mead could be restarted and ultimately
generate positive cash flow. However, we are no longer in a position to maintain
the Mead smelter in a state of readiness for potential restart, as we have done
since January 2001," said Hockema. "Those readiness costs have been running more
than $4 million per year - and that's even before considering the actual restart
costs, which typically amount to about $2 million for each of the facility's
eight potlines."

      Because the Mead smelter has been curtailed since January 2001, today's
announcement affects only a minimal number of active employees (approximately
25). Approximately 250 hourly employees who have been on layoff status are
eligible for early retirement benefits, in accordance with their collective
bargaining agreement, as a result of the indefinite curtailment.

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

                                      F-944

           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.