Released on Wednesday, August 8, 2007

The Government of Quebec announced it has accepted the conclusions of the board of directors of Alcan, Montreal, Canada, with respect to its acquisition by a subsidiary of Rio Tinto, London.

The government agreed that Rio Tinto's July 12 offer respects the terms of the Continuity Agreement between Alcan and the Government of Quebec, signed in 2006.

The Continuity Agreement states that in the event of a proposed acquisition of Alcan, its board of directors would only approve a buyer who met the necessary requirements in terms of ongoing commitments relevant to the health and prospects of the economy and society of Quebec.
 
“This decision underscores the shared values of Rio Tinto and Alcan, including our dedication to environment, health, safety and local communities,” said Rio Tinto's chief executive Tom Albanese.

Rio Tinto’s chief also said that the two companies expect to maintain operations as usual at Alcan and in Quebec under the name Rio Tinto Alcan.

“Ensuring that this partnership continues for decades to come was vitally important to Alcan and a key element in our deliberations as to the right course for our company,” said Dick Evans, president and CEO of Alcan. “We are excited by the opportunities that Rio Tinto Alcan represents, and that Quebec will serve as home base to the world's leading aluminum business.”