LOS ANGELES & PITTSBURGH--(BUSINESS WIRE)--June 7, 2006--Alcoa Foundation announced today that it has invested a $240,000 grant in Palos Verdes Peninsula Land Conservancy to establish a Research Education and Community Involvement Program for the Environment (RECIPE) to investigate critical issues for restoring and sustaining natural habits, promote environmental education opportunities for students at all levels and provide community involvement opportunities for the public.

"We are excited to partner with Alcoa Foundation and grateful for this grant that will help establish this new, ground-breaking program," said Dr. William Ailor, Founder and President Emeritus, Palos Verdes Peninsula Land Conservancy. "This innovative program will integrate research, education and community involvement to meet the environmental needs of the local area and significantly help the efforts of land trusts around the world."

With the help of the grant, the Land Conservancy will develop a scientific research program that will gather and manage information regarding restoring and sustaining native habitats, while documenting ongoing changes as the habitat improves. A significant part of the program will involve an educational component that expands existing environmental education programs for third graders, volunteer opportunities for middle school students, research and volunteer opportunities that fulfill community service requirements for high school students and research opportunities for university students and faculty.

"This program enables Alcoa Foundation to reach into the communities where Alcoa operates and lend a helping hand through its grantmaking," said Olivier M. Jarrault, president, Alcoa Fastening Systems, headquartered in nearby Torrance, Calif. "With nearly 3000 Alcoa Fastening Systems employees working in the Los Angeles basin, this program, which recognizes the importance of land stewardship, is one more way that Alcoa Foundation is working to enhance the quality of life in communities where Alcoa operates."

Alcoa Fastening Systems, a business unit of Alcoa, is a leading worldwide designer and manufacturer of fastening systems, specialty fasteners, components, and installation systems for aerospace and commercial product assembly. Headquartered in Torrance, California, the company has 6,500 employees, and manufactures at 26 locations in seven countries.

About Alcoa Foundation

Established in 1952, Alcoa Foundation is a global resource that actively invests in improving the quality of life in the countries around the world where Alcoa operates. The Foundation's grants address global and local needs in Areas of Excellence that include:

Conservation and Sustainability, Global Education and Workplace Skills, Business and Community Partnerships and Safe and Healthy Children and Families. Alcoa Foundation manages Alcoa's ACTION and Bravo! programs which recognize the volunteer efforts of employees with grants to the organizations they serve. For more information about Alcoa Foundation, visit www.alcoa.com, under Community.

About Alcoa

Alcoa is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers.

In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap(R) foils and plastic wraps, Alcoa(R) wheels, and Baco(R) household wraps. Among its other businesses are closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 129,000 employees in 43 countries and has been named one of the top most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com

Copyright Business Wire 2006

Alcoa Inc.

Alcoa Inc.

Alcoa (NYSE:AA) is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap® foils and plastic wraps, Alcoa® wheels, and Baco® household wraps. Among its other businesses are closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 129,000 employees in 44 countries and has been named one of the top most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com

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