Global Alumina Concludes Discussions With Republic of Guinea Government

2005-05-24

Global Alumina Corporation announced that that it has agreed with the government of the Republic of Guinea to an amendment to the investment and concession agreement (the "Basic Agreement") which addresses all of the outstanding issues raised by the National Assembly during the recent ratification process. The Guinean Minister of Mines, Ahmed Tidiane Souare, is expected to stand before the National Assembly on Thursday, May 19, 2005 to present the amendment and recommend its adoption and ratification of the amended Basic Agreement. The Company expects actions on such recommendations to follow shortly thereafter. Global Alumina Corporation (Global Alumina) is a company that intends to use the vast bauxite resources of Guinea to produce alumina for sale to the global aluminum industry. Global Alumina is positioned to be one of the largest companies focused solely on alumina production and sales, and offers an opportunity for socially responsible investing in a country that holds over one-third of the world's bauxite resources.