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KAISER STOCKHOLDERS APPROVE SALE OF DEPOSITARY SHARES

 HOUSTON, Sept. 30 /PRNewswire/ -- Kaiser Aluminum Corp. (NYSE:KLU) announced that a majority of stockholders approved the sale of approximately 2.1 million depositary shares to MAXXAM Group Inc., a subsidiary of MAXXAM Inc. (AMEX: MXM), at a special meeting of stockholders held today.
 The sale occurred on June 30, 1993, in connection with Kaiser's issuance of 19.3 million depositary shares. MAXXAM Group Inc. subsequently transferred the 2.1 million depositary shares to MAXXAM Inc.
 The special meeting of stockholders was held in order to comply with certain rules of the New York Stock Exchange Inc.
 Kaiser Aluminum Corp. is one of the world's leading producers of alumina, primary aluminum, and fabricated aluminum products and is a major supplier of alumina and primary aluminum in the domestic and international markets. MAXXAM owns approximately 68 percent of Kaiser on a fully diluted basis.
 -0- 9/30/93
 /CONTACT: Scott Lamb of Kaiser Aluminum, 713-267-3826/
 (KLU MXM)


CO: Kaiser Aluminum Corp.; Maxxam Inc. ST: Texas IN: MNG SU:

SG -- SF004 -- 7240 09/30/93 11:32 EDT
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Publication:PR Newswire
Date:Sep 30, 1993
Words:176
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