Mr. Michael Cella reports

GLOBAL ALUMINA ANNOUNCES JOINT VENTURE BUDGET APPROVAL

Global Alumina Corp.'s joint venture board of directors has approved additional project financing of $4.1-million for the period Oct. 1, 2011, through Oct. 31, 2011. Global Alumina will be responsible for its one-third share of this amount. The joint venture board had previously approved cumulative project financing from inception through September, 2011, of $768.7-million of which $755.4-million was incurred or prepaid through August, 2011, and $748.9-million has been financed to date.

Global Alumina has approximately $28.0-million in cash, $21.1-million of which is in escrow available for project development and $6.9-million of which is unrestricted and available for general corporate purposes. The company also has a $33.3-million subscription receivable due to the company on the completion of the project debt financing.