Aleris and European Term Loan Lenders Reach Settlement Agreement

By Aleris International Inc., PRNE
Sunday, May 2, 2010

Voting Deadline for ADH Class 3 Claims Extended Through Tuesday, May 4

BEACHWOOD, Ohio, May 3, 2010 - Aleris International, Inc., a global leader in aluminum rolled products,
extrusions and recycling, said today that it has entered into a settlement
agreement with certain holders of claims in ADH Class 3 (European Term Loan
Claims) in connection with the pending Plan of Reorganization of Aleris and
its affiliated debtors. As a result of the settlement, these creditors now
support the Plan. The Backstop Parties under the Plan have also agreed to the
terms of the settlement agreement.

The settlement agreement is a significant milestone in the company's
efforts to confirm a consensual plan of reorganization and emerge from
chapter 11.

Under the terms of the settlement agreement, holders of claims in ADH
Class 3 of the Plan, other than the Backstop Parties under the Plan, that
exercise ADH Term Loan Subscription Rights will receive in total the right to
subscribe for US$50,000,000 of ADH Term Loan Subscription Rights after taking
into consideration the Maximum Third-Party Reduction under the Plan.

The agreement also provides for changes in the proposed Stockholders'
Agreement and Registration Rights Agreement that will be entered into in
connection with the Plan. These changes enhance the rights of shareholders of
the holding company that will indirectly own the assets of Aleris and its
reorganized debtors following the effective date of the Plan.

The U.S. Bankruptcy Court in Delaware has approved Aleris' request to
modify the Disclosure Statement Order and Voting Procedures Order to extend
the voting deadline for holders of claims in ADH Class 3 to Tuesday, May 4,
, at 5:00 p.m. Pacific Daylight Time. The voting deadline was extended
from April 29, 2010 at 5:00 p.m. Pacific Daylight Time.

In addition, the Court approved the addition of a New York, New York
delivery address for ADH Class 3 ballots. Holders of claims in ADH Class 3
may return their ballots by mail, hand delivery, or overnight courier to:

    Kurtzman Carson Consultants LLC
    1230 Avenue of the Americas 7th Floor
    New York, New York 10020

Claims information and Court filings, including the proposed Plan and
Disclosure Statement are available at

This press release is not intended to be, and should not in any way be
construed as, a solicitation of votes on the Plan. This press release is not
an offering of the rights or equity or debt securities to be offered pursuant
to the rights offering. Such securities will not be registered under the
Securities Act of 1933, as amended, and may not be offered or sold in the
United States
unless registered under such Act or pursuant to an applicable
exemption there from.

About Aleris

Aleris International, Inc. is a global leader in aluminum rolled products
and extrusions, aluminum recycling and specification alloy production.
Headquartered in Beachwood, Ohio, a suburb of Cleveland, the Company operates
over 40 production facilities in North America, Europe, South America and
Asia, and employs approximately 6,500 employees. For more information about
Aleris, please visit our Website at

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Melissa Olmstead, Aleris International, Inc., +1-216-910-3513

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