0000004285-03-000070 Sample Contracts

Ladies and Gentlemen: You currently hold stock options to subscribe for, or acquire, Pechiney shares.
Liquidity Agreement • December 24th, 2003 • Alcan Inc • Rolling drawing & extruding of nonferrous metals

As agreed between Alcan and Pechiney on September 12, 2003, Alcan is offering you a Liquidity Agreement enabling you, under certain conditions, to protect the interest that your Pechiney stock options represent for you in the short and long term.

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