2008-06-02 23:43:25 -

- On May 29, 2008 MAXXAM Inc. (AMEX:MXM) shareholders re-elected the Company's nominees to its Board of Directors. MAXXAM shareholders annually elect a majority of the Board of Directors.

Holders of MAXXAM's common stock elected Robert J. Cruikshank, Stanley D. Rosenberg, and Michael J. Rosenthal as Common Directors to serve until the 2009 Annual Meeting.

Holders of MAXXAM's

common and preferred stock, voting together as a single class, elected Charles E. Hurwitz as a General Director to serve until the 2011 Annual Meeting.

Company press releases may contain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The company cautions that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those expressed or implied in the forward-looking statements as a result of various factors.

MAXXAM Inc., Houston
Ron Kurtz, 713-267-3686