- Century Aluminum Provides Update on Iceland Operations


MONTEREY, CA--(Marketwire - October 06, 2008) - Century Aluminum Company
(NASDAQ: CENX) confirmed today that immediately available cash balances for its
Iceland operation are held with a AA rated European financial institution.
Additional cash balances of $30 million, which by their terms become available
this week, are held in U.S. dollars with Iceland banks and will be guaranteed
by the government of Iceland according to a notice released by the Icelandic
government today. This amount constitutes all funds held with Icelandic banks
other than amounts posted as collateral for Century's Icelandic krona hedges. 

Construction for the new smelter at Helguvik is continuing per the project
schedule and Century will continue to assess the situation in Iceland as it
develops. "We continue to believe in the importance of the Helguvik project for
the Company, our shareowners and its benefit to the Icelandic people and
economy" said Logan Kruger, Century's president and chief executive officer.
"We will monitor the situation closely." 

Cautionary Statement 

This press release may contain "forward-looking statements" within the meaning
of U.S. federal securities laws. The company 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 the company'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 the company's
Annual Report on Form 10-K and in other filings made with the Securities and
Exchange Commission. The company 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. 

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

Helga Gunnarsdottir, Director-Corporate Finance, Landsbanki Islands hf. 

Olafur Finsen, Senior Legal Advisor-Corporate Finance, Landsbanki Islands hf. 


Contacts:

Mike Dildine (media)
831-642-9364

Shelly Lair (investors)
831-642-9357