Rio Tinto offer for Alcan expires with over 98 per cent of shares tendered

Rio Tinto today announces that the offer (the “Offer”) by Rio Tinto Canada Holding Inc.(“RTCH”) to acquire all of the shares of Alcan Inc. (“Alcan”) is now closed for acceptance.

As at the expiry time of the Offer (6:00pm Eastern Time (Canada) on November 8, 2007), approximately 8,585,000 additional common shares of Alcan have either been validly deposited and taken up or are covered by notices of guaranteed delivery. These additional shares (which represent approximately 2.28 per cent of the outstanding shares), together with approximately 360,431,000 shares already beneficially owned by RTCH, represent approximately 98.10 per cent of the outstanding shares of Alcan.

RTCH will promptly exercise its right to acquire all the remaining Alcan shares by way of compulsory acquisition under the Canada Business Corporations Act. Notices of compulsory acquisition will be mailed to remaining shareholders as soon as practicable.