Century Aluminum Company - Company Announcement

Century Aluminum Announces Agreement to Acquire Full Ownership of Mt. Holly Smelter

CHICAGO, IL--(Marketwired - October 23, 2014) - Century Aluminum Company
(NASDAQ: CENX) announced today that its wholly owned subsidiary has entered
into a definitive agreement to acquire Alcoa's 50.3% stake in the Mt. Holly
aluminum smelter. Mt. Holly, located in Berkeley County, South Carolina,
employs approximately 600 people and has an annual production capacity of
229,000 metric tons of primary aluminum. Following the closing of the
transaction, Century will own 100% of Mt. Holly. "We are pleased to welcome the Mt. Holly team to the Century family," commented
Michael Bless, President and CEO. "We are obviously familiar with this
excellent plant due to our long affiliation, and are excited about the
opportunity to assume full ownership. We know that Mt. Holly's employees share
our core values of safety, product quality and customer service. This
transaction furthers our intent to increase our North American hot metal
capacity and improve the value-added content of our product mix, including
continuing to supply aluminum to the automotive, aerospace and other key
industries throughout South Carolina and the US. "We believe that Mt. Holly is globally competitive in every area except its
cost of power and this transaction reflects our continuing confidence in
domestic aluminum production," continued Mr. Bless. "Mt. Holly's future is
directly tied to our ability to obtain the power needed to make the plant
competitive in the global market and we will work aggressively toward a
solution that benefits everyone. During our time as a minority partner in the
Mt. Holly smelter, we have grown to appreciate South Carolina as a
pro-business, pro-jobs state with excellent leadership in business and
government that understands the need to be competitive in the global economy,"
he said. "We look forward to working with the community and other key
constituencies in South Carolina to ensure a long and productive future for Mt.
Holly and to continue to give South Carolina a foothold in the international
aluminum industry."

Pursuant to the terms of the agreement, Century will acquire Alumax of South
Carolina, a subsidiary of Alcoa and owner of Alcoa's 50.3% interest in Mt.
Holly, for $67.5 million in cash less certain amounts owed by Alumax to Mt.
Holly and subject to working capital and other similar adjustments. The
transaction is expected to close in the fourth quarter of 2014 and is subject
to customary closing conditions. 

About Century Aluminum

Century Aluminum Company owns primary aluminum capacity in the United States
and Iceland. Century's corporate offices are located in Chicago, IL. Visit
www.centuryaluminum.com for more information. 

Certified Advisors for the First North market of the OMX Nordic Exchange
Iceland hf. for Global Depositary Receipts in Iceland: 

Atli B. Gudmundsson, Senior Manager -- Corporate Finance, Landsbankinn hf.
Steingrimur Helgason, Director -- Corporate Finance, Landsbankinn hf.