Alcoa and Alcoa Foundation today announced combined community investment highlights for 2002, which included $34.7 million in combined giving in Alcoa communities worldwide. Other highlights included a global celebration to kick-off the Foundation's 50th anniversary, a 100% increase in employee engagement in Alcoa communities, and the announcement of a global Social Venture Initiative to help Non-Governmental Organizations (NGOs), or nonprofit organizations, to be more effective and financially sustainable.

"In this challenging economic climate, we believe it's important to continue to invest appropriately in our communities. Our investments move beyond money to include our expertise and many skills and our products," said Alain J. Belda, chairman and chief executive officer of Alcoa.

Grantmaking for Alcoa Foundation for 2002 totaled $17. 2 million. The Foundation made over 1,900 grants in 29 countries around the world in 2002 as part of an overall strategy to globalize giving in a growing number of Alcoa communities worldwide. International giving totaled $6.2 million, and continued to represent a growing portion of the Foundation's grantmaking portfolio: 36% of total giving, which is more than double what it was two years ago.

50 Years and Counting

The Foundation kicked-off a yearlong celebration of 50 years of community investing with employee engagement activities and celebration events in 135 locations around the world. The events ranged from planting trees in Knoxville, Tennessee, USA, to painting a community center in Portovesme, Italy, to convening grantees and honoring employee volunteers in Pocos de Caldas, Brazil. The anniversary has been widely recognized by community leaders, heads of state, the U.S. Congress and the media.

Increasing Employee Engagement

In 2002, Alcoans volunteered in their communities in increasing numbers, more than doubling their activity from 2001. As part of its ACTION (Alcoans Coming Together In Our Neighborhoods) program, Alcoa recognized 234 teams of ten or more Alcoans who provided a day of service to an NGO in their community with grants of $3,000 per team, totaling $702,000. That compares to 110 ACTION grants in 2001. In addition, Alcoa launched its Bravo! program company wide and recognized 437 individual Alcoans for their volunteer work with NGOs around the world with grants of $250 to each of those organizations.

Improving NGO Sustainability

As part of its anniversary, the Foundation launched a global Social Venture Initiative, designed to help improve the effectiveness and sustainability of NGOs. The Initiative will launch this year with a forum of international experts in social venture/enterprise that will be shared with NGOs in Alcoa locations around the world via a live webcast. The forum will be followed by a Request for Proposal process inviting NGOs in Alcoa communities to submit plans for social venture/enterprise in their own organizations, and an eventual sharing of ideas and best practices on this topic across Alcoa communities.

"It's a new day for NGOs around the world. They are under increasing pressure to do more with less and we are working to provide them with the resources to meet community needs for the long-term," said Kathy Buechel, president of Alcoa Foundation. "Their needs go beyond money to include expertise, employee involvement, products and other resources and we've extended our community investing to meet these needs."

Support for Higher Education

Alcoa continued its support for higher education with $1.1 million in grants to 29 universities in the U.S., which represent Alcoa's partnerships, support diversity and foster global connections with these institutions.

International Disaster Relief

As part of its ongoing support of disaster relief in Alcoa communities, Alcoa Foundation provided grants to aid with flooding in Brazil, hurricane devastation in Jamaica, flooding and wildfires in the U.S. and France, typhoon damage in South Korea, and Australian victims of the Bali tragedy. In addition, Alcoa continued support for victims of the events of September 11, 2001 in New York through the Alcoa Relief Fund.

Aluminum by Design

Aluminum by Design: Jewelry to Jets continued its run throughout parts of the U.S., Canada and Europe. This groundbreaking presentation was the first major museum exhibition to explore how aluminum has inspired creativity and sparked innovation in design for the past 150 years. In 2002, the exhibit traveled to The Wolfsonian in Miami, the Cranbrook Art Museum in Detroit, and The Design Museum in London. Plans for 2003 include exhibitions at Art Media at the Hotel Wielemans in Brussels February-May, and Cite des Sciences et de l'Industrie in Paris June-November.

About Alcoa Foundation

Established in 1952, Alcoa Foundation is a global resource that actively invests in improving the quality of life in more than 29 countries around the world where Alcoa operates. In addition to community grants addressing local needs, the Foundation provides global grants focusing on five Areas of Excellence, including: Global Education in Business, Engineering, Science and Technology; Business and Community Partnerships; Conservation and Sustainability; Safe and Healthy Children and Families; and Skills Today for Tomorrow. For more information about Alcoa Foundation, visit www.alcoa.com under "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 serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses as a single solution to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap(R) aluminum foil, Alcoa(R) wheels, and Baco(R) household wraps. Among its other businesses are vinyl siding, closures, precision castings, and electrical distribution systems for cars and trucks. The company has 127,000 employees in 38 countries. For more information go to www.alcoa.com

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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