PITTSBURGH, PA - Combined Giving for Alcoa and Alcoa Foundation at More than $52 Million, Community Investment Beyond Money to Include Expertise, Products and Employee Engagement

Alcoa (NYSE:AA) and Alcoa Foundation today released their first combined community investment report titled, "Engaged Investors, Alcoa and Alcoa Foundation in the Community, 2001." The report shows the totality of investments in Alcoa communities worldwide, including more than $52 million in combined grantmaking in 26 countries, donations of products and expertise, and employee volunteerism.

"This book is the start of measuring Alcoa's social impact which is a critical one-third of the triple bottom line of economic, environmental and social responsibility," said Alain Belda, chairman and chief executive officer of Alcoa. "We measure the success of our company not just by financial metrics, but by the success of our many stakeholders, including those in our communities."

The report provides a financial overview of Alcoa's and Alcoa Foundation's community investments and highlights many of the more than 2,000 grantmaking initiatives around the world, including those in Areas of Excellence such as: Conservation and Sustainability; Safe and Healthy Children and Families; Global Education in Business, Engineering, Science and Technology; Skills Today for Tomorrow; and Business and Community Partnerships. It also provides details of two new Alcoa employee engagement initiatives known as ACTION (Alcoans Coming Together In Our Neighborhoods), which recognizes teams of Alcoans who provide a day of community service to nonprofit organizations, and Bravo!, which recognizes individual employee volunteerism.

"In investing in our communities around the world, we represent more than money," said Kathleen W. Buechel, president of Alcoa Foundation. "We bring the combined resources of two global organizations, including products, expertise and the volunteer investment of numbers of Alcoa's 129,000 employees, to strengthen our nonprofit partners and enrich the communities where Alcoans live and work."

A number of programs that encourage global exchange of ideas and expertise on key issues are featured in the report, including:

-- The Nature Conservancy with a program to help conserve, restore and sustain a global portfolio of high-profile forest sites spanning a range of ecological regions in Brazil, China, Mexico and the states of Indiana and Pennsylvania in the United States;
-- Student Conservation Association with a program to help young people and partner nonprofit organizations from Mexico and Brazil to develop expertise in conservation and park service;
-- Women in Engineering Program and Advocates Network (WEPAN) encourages online science and engineering mentoring programs for women;
-- Boardsource (formerly the National Center for Nonprofit Boards), an organization that encourages the development of nonprofit leaders.

To access a copy of the Community Investment Report, please visit www.alcoa.com and click on "Community."

About Alcoa

Alcoa is the world's leading producer of primary aluminum, fabricated aluminum and alumina, and is active in all major aspects of the industry. Alcoa's aluminum products and components are used worldwide in aircraft, automobiles, beverage cans, buildings, chemicals, sports and recreation, and a wide variety of industrial and consumer applications, including such Alcoa consumer brands as Alcoa(R) wheels, Reynolds Wrap(R) aluminum foil, and Baco(R) household wraps. Among its related businesses are precision castings, vinyl siding, closures, and electrical distribution systems for cars and trucks. The company has 129,000 employees in 38 countries.

About Alcoa Foundation

Established in 1952, Alcoa Foundation is a global resource that actively invests in improving the quality of life in more than 25 countries around the world where Alcoa operates. In addition to community grants addressing local needs, the Foundation provides global grants focusing on Areas of Excellence, including: Conservation and Sustainability; Safe and Healthy Children and Families; Global Education in Science, Engineering, Technology and Business; Business and Community Partnerships; and Skills Today for Tomorrow. For more information about Alcoa Foundation, visit www.alcoa.com and click on "Community."

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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