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l;TTiiCIlA7ENT "~. " KAISER VENTURES INC. News Release Contact: Pamela Catlett (909) 483-8500 FOR IMMEDIATE RELEASE Corporate Hradqurtrttrt 3633 E. Ddnnd Empire Roulrort rd Suite 850 Ourrtrio, Crtlifarnirt 91764 909/433-A500 909/944-6605 far FAWCETT RETIRES FROM KAISER VENTURES INC.; BOARD NAMES HIM VICE CHAIRMAN AND DIRECTOR. NEW PROMOTIONS ANNOUNCED Ontario, Calif. (January 15, 1998) -Kaiser Ventures Inc. (NASDAQ: KRSC) announced today the retirement of Gerald A. Fawcett, the Company's President and Chief Operating Officer. In accepting his scheduled retirement, the Company's Boazd of Directors elected Fawcett to the Board and named him Vice Chairman. The Board also promoted James F. Verhey, Kaiser's Senior Vice President and Chief Financial Officer to Executive Vice President and Chief Financial Officer. He will direct the Company's day-to-day operations in addition to his ongoing financial responsibilities. Fawcett's retirement ends a 47-yeaz cazeer that began in 1951 as an hourly worker with Kaiser Steel Corporation. During his 32 yeazs with Kaiser Steel, Fawcett held numerous management positions, culminating with his appointment as Division Superintendent of the Cold Rolled and Coated Products Division. He left Kaiser Steel in 1983 and served as an industry consultant to both domestic and foreign steel manufacturers before rejoining the Company in 1988. Fawcett returned to Kaiser as one of the key executives responsible for the emergence of Kaiser from bankruptcy reorganization as well as the formation of the current Kaiser Ventures Inc. "Without Gerry Fawcett, Kaiser Ventures would not be the success that it is today;' Rick Stoddard, Kaiser's Chairman and Chief Executive Officer, said. "Gerry has given his heazt and soul to this company and we are all grateful to him. We wish him well in retirement " (more)