Rim Semiconductor Company (fka RSMI)

[iOwnSomeNVEI]

5 for 1 split

(TIE)

TIMET Announces Payment of Deferred Dividends and Interest on Convertible Preferred Securities and 5-for-1 Stock Split

DENVER, March 24 /PRNewswire-FirstCall/ -- Titanium Metals Corporation ("TIMET" or the "Company") (NYSE: TIE) announced today that its Board of Directors has approved resumption of scheduled quarterly payments of dividends on its outstanding 6.625% Convertible Preferred Securities with the next scheduled payment on June 1, 2004 to holders of record as of May 15, 2004. The Company's Board also approved payment on April 15, 2004 of all previously deferred dividends and accrued interest on the Convertible Preferred Securities to holders of record as of April 5, 2004.

TIMET also announced that its Board of Directors has approved a split of TIMET's common stock, $.01 par value per share, at a ratio of five new shares for each old share. In order to effect the split, the Company's Board has also approved the amendment of TIMET's Certificate of Incorporation to increase the number of authorized shares of capital stock.

The Company will submit the proposal to amend its Certificate of Incorporation to increase the authorized capital stock to its stockholders for approval at the 2004 Annual Meeting of Stockholders, currently scheduled for May 21, 2004. Subject to stockholder approval of the amendment of the Company's Certificate of Incorporation and the approval of a Supplemental Listing Application by the New York Stock Exchange, the stock split will be effected by means of a dividend of four shares of TIMET's Common stock for each issued and outstanding share of Common Stock. Upon satisfaction of the NYSE listing requirements, the effective date of the stock split will be announced. The definitive date, time and place of the Company's Annual Meeting will be included in the Company's Notice of Annual Meeting of Stockholders and Proxy Statement.

TIMET, headquartered in Denver, Colorado, is a leading worldwide producer of titanium metal products. Information on TIMET is available on the internet at http://www.timet.com /.

SOURCE Titanium Metals Corporation

CO: Titanium Metals Corporation

ST: Colorado

SU: DIV

Web site: http://www.timet.com

http://www.prnewswire.com


03/24/2004 17:53 EST