Timminco Limited announced today that it is implementing a minimum 10% price increase on all Timminco products worldwide.

According to Tim R. Pretzer, President and COO, "Timminco has experienced rapid cost increases for raw materials and energy over the past several months. The adverse impact of these cost increases has been magnified by the significant strengthening of the Canadian dollar as approximately 90% of Timminco's revenues are in US dollars. In spite of our success in implementing cost savings and overhead reduction projects at our manufacturing facilities around the world, it is no longer possible for us to absorb these increased feedstock costs, as indicated by our recently published unacceptable financial results".

He further added that: "Timminco's long term strategy to diversify remains intact as evidenced by the recent announcement of our intent to acquire Becancour Silicon, a Canadian world class silicon metal producer, and our 24% investment in Fundo Wheels, a Norweigan high-end automotive wheel manufacturer; both of which Timminco expects will provide increased stability and breadth to our company".

Increases will be effective immediately for spot customers and September 1, 2004 for contract customers.

Timminco is a leading global specialty and light metals company offering customized magnesium, aluminium, calcium and strontium metal alloys used to manufacture a variety of products used in a broad range of industries.

Timminco facilities in Canada, the United States, Mexico and Australia serve a world-wide customer base. Timminco common shares are traded on the Toronto Stock Exchange under the symbol TIM. – Press Release