Century Aluminum Company Icelandic Subsidiary Signs Power Agreement.

MONTEREY, Calif. -- Century Aluminum Company (Nasdaq:CENX) announced today that Noroural ehf., a wholly owned subsidiary, has signed an agreement with Orkuveita Reykjavikur and Hitaveita Suournesja to purchase electric power to further expand the production capacity at its primary aluminum plant at Grundartangi, Iceland.

The Noroural plant, located near Reykjavik, currently operates at a rate of 90,000 metric tons per year (mtpy). A previously announced expansion will increase the plant's capacity to 212,000 mtpy by mid-to-late 2006. Under the new agreement, Hitaveita Suournesja affirms its commitment to provide 15 MW, which will permit Noroural to expand the plant's capacity to 220,000 mtpy by mid-2007, and Orkuveita Reykjavikur agrees to deliver 70 MW, which will allow a further expansion to 260,000 mtpy by the fourth quarter of 2008. The agreement is subject to the satisfaction of certain conditions.

"Growing our production base and lowering our overall costs are key elements of our strategy," said Century chairman and chief executive officer Craig A. Davis. "Expanding our plant in Iceland contributes to both of these objectives. It also illustrates our confidence in Iceland's business climate, financial institutions, technical capabilities and in our Noroural employees. We appreciate the continued collaboration with Orkuveita Reykjavikur and Hitaveita Suournesja, and we look forward to realizing our expansion target of 260,000 mtpy."

Century owns 615,000 mtpy of primary aluminum capacity. In addition to Noroural, the company owns and operates a 244,000 mtpy plant at Hawesville, Ky., a 170,000 mtpy plant at Ravenswood, W.Va. and a 49.67 percent interest in a 222,000 mtpy reduction plant at Mt. Holly, S.C. Alcoa Inc. owns the remainder of the plant and is the operating partner. In addition, Century holds a 50-percent share of the 1.25 million mtpy Gramercy Alumina Plant in Gramercy, La. Century's corporate offices are located in Monterey, Calif.

This press release may contain "forward-looking statements" within the meaning of U.S. federal securities laws. The company has based its forward-looking statements on current expectations and projections about the future, however, these statements are subject to risks, uncertainties and assumptions, any of which could cause the company's actual results to differ materially from those expressed in its forward-looking statements. More information about these risks, uncertainties and assumptions can be found in the risk factors and forward-looking statements cautionary language contained in the company's Annual Report on Form 10-K and in other filings made with the Securities and Exchange Commission. The company does not undertake, and specifically disclaims, any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date such forward-looking statements are made.