Aleris International, Inc. (NYSE: ARS) announced Tuesday the completion of the acquisition of the Company by affiliates of Texas Pacific Group (TPG).

On August 7, 2006, affiliates of TPG entered into a merger agreement with the Company to acquire the Company for a purchase price of approximately $1.7 billion plus the assumption of or repayment of approximately $1.6 billion of debt. Under the terms of the merger agreement, Company stockholders will receive $52.50 per share in cash without interest.

Steve Demetriou, Chairman and CEO of Aleris said, "We are very pleased to complete this transaction with TPG which has created significant value for shareholders while positioning Aleris with a partner committed to our continued growth as a private company."

Aleris's common stock will cease trading on the New York Stock Exchange at market close today, and will be delisted. As soon as practicable, a paying agent appointed by TPG will send information to all Company stockholders of record, explaining how they can surrender Company stock in exchange for $52.50 per share in cash without interest. Stockholders of record should await this information before surrendering their shares.

Stockholders who hold shares through a bank or broker will not have to take any action to have their shares converted into cash, because these conversions will be handled by the bank or broker.

About Aleris International, Inc.

Aleris International, Inc. is a global leader in aluminium rolled products and extrusions, aluminium recycling and specification alloy production. The Company is also a recycler of zinc and a leading U.S. manufacturer of zinc metal and value-added zinc products that include zinc oxide and zinc dust. Headquartered in Beachwood, Ohio, a suburb of Cleveland, the Company operates 50 production facilities in North America, Europe, South America and Asia, and employs approximately 8,600 employees.

About TPG

TPG is a private investment partnership that was founded in 1992 and currently has more than $30 billion of assets under management. With offices in San Francisco, London, Hong Kong, Fort Worth and other locations globally, TPG has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, joint ventures and restructurings.