POSITIVE SECOND QUARTER OUTLOOK BASED ON LME STRENGTH

FINANCIAL HIGHLIGHTS

·         Record income from continuing operations of $1.60 per common share compared to $1.21 a year earlier and $1.12 in the fourth quarter of 2006;

·         Record operating earnings of $1.67 per common share compared to $1.26 a year earlier and $1.09 in the fourth quarter of 2006;

·         Cash flow from operating activities in continuing operations of $582 million, a first-quarter record, compared to $362 million a year earlier and a record $1.1 billion in the fourth quarter of 2006;

·         Debt as a percentage of invested capital of 33% at the end of the first quarter compared to 35% at the end of 2006 and 40% at the end of 2005;

·         Selling, General and Administrative expenses at 5.8% of revenues, down from 6.6% a year earlier and 6.7% last quarter.

MONTREAL, CANADA – April 24, 2007 – Alcan Inc. today reported record operating earnings of $1.67 per common share in the first quarter of 2007 compared to $1.26 a year ago and $1.09 in the fourth quarter of 2006.

“Alcan’s continued focus on execution has helped deliver another outstanding result this quarter,” said Dick Evans, President and CEO. “Ongoing financial discipline, combined with the favourable business conditions that prevailed during the quarter, boosted earnings and returns on capital employed to new levels.  Looking forward, our strong cash flow performance and positive outlook continue to provide the financial flexibility to consider multiple options for capital allocation,” he continued.

“An improved performance across all business groups reflects our sustained emphasis on cost control, financial discipline and profitable growth.  Alcan’s increased earnings power continues to come into focus through these results and, considering the current strength in the primary metal market and our favourable competitive position, we expect to see continued positive results in the second quarter,” he concluded. 

MEDIA CONTACT: Anik Michaud

Tel.: (514) 848-8151

INVESTOR CONTACT: Simon Ellinor

Tel. (514) 848-8368