PR Newswire

                            October  5, 1992, Monday

SECTION: Financial News

DISTRIBUTION: TO BUSINESS EDITOR

LENGTH: 431 words

HEADLINE:  SEIDL TO RESIGN AT MAXXAM, KAISER ALUMINUM, KAISER ALUMINUM & 
CHEMICAL, AND PACIFIC LUMBER; HURWITZ, HUTCHCRAFT TO TAKE ON ADDED POSTS

DATELINE: HOUSTON, Oct. 5

KEYWORD: bc-MAXXAM-Kaiser-Alum 

 BODY:     MAXXAM Inc. (AMEX: MXM) announced today that, effective the 
end of the year, John M. Seidl will resign as  president of MAXXAM,  as 
chairman and chief  executive officer  of its subsidiary companies, 
Kaiser Aluminum Corp. (KAC) (NYSE: KLU) and Kaiser Aluminum & Chemical 
Corp. (KACC), and as chairman of MAXXAM-owned The Pacific Lumber Co.  
Seidl also will resign as a  director of  MAXXAM,  the Kaiser companies, 
and Pacific Lumber.

   Charles Hurwitz,  MAXXAM's  chairman and chief  executive officer,  
will take on the added positions of  president of MAXXAM  and chairman of 
Pacific Lumber. A.S. Hutchcraft, Jr., KAC and KACC president, will assume 
the added positions of chairman and chief executive officer of KAC and 
KACC.

   "I have been lucky enough to have held interesting and exciting 
leadership positions in a number of companies in American business and 
industry since 1978," Seidl said.  "Those fourteen years have been great 
fun.  I also have had the good fortune to have enjoyed challenging 
positions in the academic world and the federal government in Washington, 
D. C., before my business career.  1993 is the right year for me to 
reflect on all those experiences and decide how I wish to spend the next 
ten to fifteen years of my life."

   "Mick Seidl has made a major contribution to our organization, and we 
wish him well," Hurwitz said.  "We are very fortunate to have an 
individual of Steve Hutchcraft's experience and competence on board to 
move into Mick's Kaiser responsibilities."

   Seidl, 53, joined the MAXXAM organization in January of 1989 as 
chairman and chief executive officer of Kaiser Tech Ltd., the predecessor 
to KAC, and its operating subsidiary, KACC.  He was named president of 
MAXXAM and chairman of Pacific Lumber in 1990.  Seidl came to MAXXAM from 
Enron Corp., a diversified energy-based corporation, where he was 
president.

   Hutchcraft, 62, is a 36-year Kaiser veteran.  He has been president of 
KAC since 1988 and a director since 1991, and he has been president, 
chief operating officer, and a director of KACC since 1982.  Prior to 
1982, he served KACC in a variety of managerial capacities, including 
general manager of the Aluminum Raw Materials and Reduction Division and 
general manager of the Aluminum

                                                                       
PAGE   78                           PR Newswire, October 5, 1992                          


Fabricated Products Division. Hutchcraft is a graduate of Yale 
University.

   MAXXAM is a Fortune 200 company that operates in aluminum, through 
87.3-percent-owned KAC and KACC; forest products, through wholly owned 
Pacific Lumber; and real estate management and development through 
various subsidiaries.

ORGANIZATION: MAXXAM Inc.; Kaiser Aluminum; Kaiser Aluminum & Chemical; 
Pacific Lumber Co.

TICKER-SYMBOL: MXM; KLU

SUBJECT: Personnel Announcements

GEOGRAPHIC: California

CO:  KAISER ALUMINUM CORP; MAXXAM INC; PACIFIC LUMBER CO; 

TS:  KLU (NYSE); MXM (AMEX); 

IND:  324 ALUMINUM REFINING;                                                                        
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