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                                                             EXHIBIT 99


FOR IMMEDIATE RELEASE:
Monday, August 19, 1996



                COMMONWEALTH ALUMINUM CORPORATION TO ACQUIRE
               CASTECH ALUMINUM GROUP INC. FOR $20.50 IN CASH


            New York, N.Y. (August 19, 1996) -- Commonwealth Aluminum
Corporation ("Commonwealth")(Nasdaq/NM:CALC) and Castech Aluminum Group Inc.
("CasTech") (NYSE:CTA) today jointly announced that they have entered into an
agreement that provides for Commonwealth to acquire all of the outstanding
shares of CasTech for $20.50 per share in cash. The acquisition will create the
largest independent aluminum rolling operation in the United States. The
combined entity will have operations located in Louisville and Lewisport,
Kentucky, Akron, Bedford and Uhrichsville, Ohio, and Carson, Long Beach and
Torrance, California, and will have annual shipments in excess of 900 million
pounds of aluminum sheet and over 475 million feet of electrical wiring
products. Commonwealth, a low cost producer of common alloy sheet through the
traditional direct chill casting technology, will acquire the leading
manufacturer of continuous cast aluminum sheet. Commonwealth President and Chief
Executive Officer, Mark V. Kaminski, said, "CasTech is one of the technological
leaders in continuous casting. Its patents and proprietary know-how put the
combined entity in a unique position to create opportunities for international
growth."

            Commonwealth will commence a cash tender offer for all shares
of CasTech common stock within five business days at a price of $20.50 a
share, the companies said.  The offer will be conditioned on, among other
things, at least a majority of the fully diluted shares of CasTech common
stock being validly tendered.  The merger agreement contemplates that
shares not purchased in the tender offer will receive $20.50 per share in a
subsequent merger.  Commonwealth has obtained a financing commitment for
the acquisition from National Westminster Bank, Plc; the tender will not be
contingent on financing.

           Kaminski said, "This transaction positions Commonwealth to
better and more efficiently serve our customers and to reduce our
production costs and earnings volatility.  The acquisition of CasTech is
expected to be accretive to Commonwealth's earnings in the first full year
of combined operations and promises to provide significant 

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value to our shareholders and expanded opportunities for the employees of
both CasTech and Commonwealth.  Above all, this combination will provide
Commonwealth with a unique opportunity to accelerate and expand its growth
in new aluminum markets.  Furthermore, the acquisition of CasTech's ALFLEX
Division provides additional growth opportunities in the flexible conduit,
cable and electrical products markets." 

            CasTech's President, Norman E. Wells, Jr., stated, "I am
extremely proud of CasTech's accomplishments over the past several years. 
The combination of these two groups will make Commonwealth a technological
leader in the aluminum industry -- well positioned for strong future
growth." 

            Commonwealth, a leading manufacturer of aluminum sheet in the
transportation, construction and consumer durables end-user markets, is
headquartered in Kentucky, posted sales of $672 million in 1995 and employs
approximately 1,100 people.

            CasTech and its subsidiaries are the nation's leading
manufacturer of continuous cast aluminum sheet.  The Company manufactures
aluminum sheet from recycled aluminum utilizing low cost, scrap-based mini-
mill production technology.  The Company is also a leading manufacturer of
electrical flexible conduit and prewired armored cable, which are made
principally from aluminum sheet manufactured by the Company.  CasTech
posted sales of $418 million in calendar year 1995, has 825 employees and
is domiciled in California.

            Commonwealth is being advised by Morgan Stanley & Co.
Incorporated, who will also act as dealer manager on this transaction. 
CasTech is being advised by Merrill Lynch & Co.

            For further information contact Henry E. Ford, Manager of
Investor Relations for Commonwealth at 502-295-5372.