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PITTSBURGH, Pa.--May 7, 1998--
Alcoa (NYSE: AA) announced today that it has extended the expiration
date of the cash tender offer for up to 27 million shares of common
stock of Alumax Inc. (NYSE: AMX) at a price of $50 per share to
midnight, EDT, Friday, June 5, 1998. The offer had previously been
scheduled to expire on Thursday, May 7, 1998. As of the close of
business on May 6, the number of shares of Alumax common stock that had
been validly tendered was 23,913,841.
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