Century Aluminum Company - Company Announcement

Century Aluminum Company Announces Tender Offer and Consent Solicitation for Its 8% Senior Secured Notes Due 2014

CHICAGO, IL--(Marketwired - May 20, 2013) - Century Aluminum Company (NASDAQ:
CENX) ("Century") announced today that it has commenced a cash tender offer for
any and all of its $249,603,550 outstanding principal amount of 8% Senior
Secured Notes due 2014 (CUSIP/ISIN No. 156431AJ7/US156431AJ73) (the "Notes").
In conjunction with the tender offer, Century is soliciting consents to
eliminate most of the covenants, certain events of default applicable to the
Notes and certain other provisions contained in the indenture governing the
Notes (the "Indenture"). Century expects to fund the tender offer with the
proceeds of a debt financing. 

The tender offer is scheduled to expire at 11:59 p.m., New York City time, on
June 17, 2013, unless extended or earlier terminated (the "Expiration Time").
Holders who validly tender their Notes and provide their consents to the
amendments to the Indenture before 5:00 p.m., New York City time, on June 3,
2013, unless extended (the "Consent Expiration"), will be eligible to receive
the Total Consideration (as defined below), which includes a consent payment.
The tender offer contemplates an early settlement option, so that holders whose
Notes are validly tendered prior to the Consent Expiration and accepted for
purchase could receive payment of the Total Consideration as early as June 4,
2013. Holders that validly tender their Notes after the Consent Expiration will
receive the Tender Offer Consideration (as defined below) promptly after the
Expiration Time. Tenders of Notes may be validly withdrawn and consents may be
validly revoked until the Withdrawal Time (as defined below). 

The "Total Consideration" for each $1,000 principal amount of Notes validly
tendered and not validly withdrawn prior to the Consent Expiration is
$1,003.75, which includes a consent payment of $30 per $1,000 principal amount
of Notes. Holders tendering after the Consent Expiration will be eligible to
receive only the "Tender Offer Consideration," which is $973.75 for each $1,000
principal amount of Notes. Holders will also receive accrued and unpaid
interest from the last interest payment on the Notes up to, but not including,
the applicable settlement date for all of such Notes that we accept for
purchase in the tender offer. 

Tendered Notes may be withdrawn and consents may be revoked before 5:00 p.m.,
New York City time, on June 3, 2013, unless extended (the "Withdrawal Time"),
but generally not afterwards. Any extension, termination or amendment of the
tender offer will be followed as promptly as practicable by a public
announcement thereof. 

The tender offer is subject to the satisfaction of certain conditions
including: (1) receipt of consents to the amendments to the Indenture from
holders of a majority in principal amount of the outstanding Notes, excluding
any such Notes owned by Century or certain of its affiliates, and execution of
a supplemental indenture effecting such amendments, (2) completion of
satisfactory financing and (3) certain other customary conditions. 

The complete terms and conditions of the tender offer are set forth in an Offer
to Purchase and Consent Solicitation Statement (the "Offer to Purchase") and
related Consent and Letter of Transmittal ("Letter of Transmittal") that are
being sent to holders of the Notes. Copies of the Offer to Purchase and Letter
of Transmittal may be obtained from the Tender Agent and Information Agent for
the offer, D.F. King & Co., Inc., at (800) 549-6650 (toll-free) or (212)
269-5550 (collect). 

Credit Suisse Securities (USA) LLC is the Dealer Manager and Solicitation Agent
for the tender offer. Questions regarding the tender offer may be directed to
Credit Suisse Securities (USA) LLC at (800) 820-1653 (toll-free) and (212)
538-2147 (collect). 

This press release is neither an offer to purchase nor a solicitation of an
offer to sell the Notes or any other securities. The tender offer is being made
only by and pursuant to the terms of the Offer to Purchase and the related
Letter of Transmittal. Holders are urged to read the Offer to Purchase and
related documents carefully before making any decision with respect to the
tender offer and solicitation. Holders of Notes must make their own decisions
as to whether to tender their Notes and provide the related consents. None of
Century, the Dealer Manager and Solicitation Agent or the Depositary and
Information Agent make any recommendations as to whether holders should tender
their Notes pursuant to the tender offer or provide the related consents, and
no one has been authorized to make such a recommendation. 

Century expressly reserves the right, subject to applicable law, to terminate
the tender offer and consent solicitation. This press release does not
constitute a notice of redemption or an obligation to issue a notice of
redemption in respect of the Notes. 

Century Aluminum Company owns primary aluminum capacity in the United States
and Iceland. Century's corporate offices are located in Chicago, Illinois. More
information can be found at www.centuryaluminum.com. 

Cautionary Statement

This press release contains certain forward-looking statements within the
meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934.
Forward-looking statements are statements about future, not past, events and
involve certain important known and unknown risks, uncertainties and
assumptions, any of which could cause our actual results to differ materially
from those expressed in our forward-looking statements. Such risks and
uncertainties may include, without limitation, declines in aluminum prices or
increases in our operating costs; worsening of global financial and economic
conditions; increases in global aluminum inventories and the addition of new or
restarted global aluminum production capacity; weakening of the company's U.S.
customer markets; our ability to successfully obtain long-term competitive
power arrangements for our U.S. plants, including access to the wholesale power
market for Hawesville and a favorable conclusion of the power negotiations for
Ravenswood; and our ability to successfully progress the potential restart of
our Ravenswood smelter. More information about these risks, uncertainties and
assumptions can be found in the risk factors and forward-looking statements
cautionary language contained in our filings with the Securities and Exchange
Commission, including Century's Form 10-K for the year ended December 31, 2012
and Form 10-Q for the quarter ended March 31, 2013. Consequently, the
forward-looking statements contained herein should not be regarded as
representations that the projected outcomes can or will be achieved, and we do
not undertake, and specifically disclaim, any obligation to revise any
forward-looking statements to reflect the occurrence of future events or
circumstances. 

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.