Century Subsidiary Signs Power Agreement for Ravenswood Plant

    Business Editors

    MONTEREY, Calif.--(BUSINESS WIRE)--Feb. 23, 2005--Century Aluminum Company (Nasdaq:CENX) reported today that Century Aluminum of West Virginia, Inc., a wholly-owned subsidiary (CWV), has signed an agreement with Appalachian Power Company (APCO) for electrical power service to CWV's Ravenswood, West Virginia, plant. The agreement is to become effective January 1, 2006, when CWV's contract with Ohio Power Company expires. It will have an initial term of two years, but will continue until CWV gives 12 months notice of cancellation. Appalachian Power Company and Ohio Power Company are subsidiaries of American Electric Power Company (NYSE:AEP).
    Power under the agreement will be priced under an AEP tariff and will be substantially similar to the price CWV is presently paying.
    APCO has filed a petition with the Public Service Commission of West Virginia (PSC) seeking affirmation of its authorization to provide service to the Ravenswood plant. In an order issued in 2000, the PSC found that the Ravenswood plant was within APCO's service territory and that the PSC had jurisdiction over the provision of service. The agreement will become effective unless the PSC fails to affirm its previous findings.
    "This is an excellent agreement for the Ravenswood plant, for its employees and for the community at large," Ron Thompson, plant manager and a Vice President of CWV, said. "We also welcome the opportunity to work with West Virginia-based Appalachian Power Company. We have had a great working relationship with Ohio Power, and we expect to have the same with Appalachian Power."
    Century owns 615,000 mtpy of primary aluminum capacity. The company owns and operates a 244,000 mtpy plant at Hawesville, KY, a 170,000 mtpy plant at Ravenswood, WV and a 49.67-percent interest in a 222,000-mtpy reduction plant at Mt. Holly, SC. Alcoa Inc. owns the remainder of the Mt. Holly plant and is the operating partner. Century also owns a 90,000 mtpy plant at Grundartangi, Iceland, and will expand that plant to 212,000 mtpy by 2006. After the completion of the 122,000 mtpy Iceland expansion, Century will own 737,000 mtpy of primary aluminum capacity. 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, CA.

    This press release may contain forward-looking statements within the meaning of U.S. federal securities laws. Century 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 Century'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 Century's fillings with the Securities and Exchange Commission. Century 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.

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CONTACT: Century Aluminum Company Michael Dildine, 831-642-9364

KEYWORD: CALIFORNIA WEST VIRGINIA INDUSTRY KEYWORD: MINING/METALS ENERGY MARKETING AGREEMENTS SOURCE: Century Aluminum Company

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