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KAISER ALUMINUM DECLARES DIVIDENDS ON PREFERENCE STOCKS

 HOUSTON, Aug. 9 /PRNewswire/ -- Kaiser Aluminum & Chemical Corp. (KACC), the operating subsidiary of Kaiser Aluminum Corp. (KAC) (NYSE: KLU), has declared regular quarterly dividends on its preference stocks.
 The dividends, payable Sept. 1, 1993, to stockholders of record Aug. 16, 1993, were declared as follows:
 $1.03-1/8 per share on the 4-1/8 percent cumulative convertible preference stock;
 $1.18-3/4 per share on the 4-3/4 percent cumulative convertible (1957 series) preference stock;
 $1.18-3/4 per share on the 4-3/4 percent cumulative convertible (1959 series) preference stock;
 $1.18-3/4 per share on the 4-3/4 percent cumulative convertible (1966 series) preference stock;
 $1.25 per share on the cumulative (1985 Series A) preference stock as to those shares which are held outside the company's employee stock ownership plans; and
 $1.25 per share on the cumulative (1985 Series B) preference stock as to those shares which are held outside the company's employee stock ownership plans.
 KACC is one of the world's leading producers and marketers of alumina, primary aluminum, and fabricated aluminum products. It is a subsidiary of KAC. MAXXAM Inc. (AMEX: MXM) owns 68 percent of KAC.
 -0- 8/9/93
 /CONTACT: Robert W. Irelan of Kaiser Aluminum, 713-267-3722/
 (KLU MXM)


CO: Kaiser Aluminum Corp.; MAXXAM Inc.; Kaiser Aluminum & Chemical
 Corp. ST: Texas IN: MNG SU: DIV


TM -- SF017 -- 0923 08/09/93 17:06 EDT
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Publication:PR Newswire
Date:Aug 9, 1993
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