This periodic newsletter offers a roundup of highlights from Alcoa's operations worldwide. Taken individually, these summaries provide insight into Alcoa's performance in the economic, environmental, and social realms. Taken together, they reveal the breadth of activity that ultimately delivers a sustainable outcome.

More detail about Alcoa can be found on our website, www.alcoa.com.

Alcoa Sustainability Report Published
Alcoa's 2003 Sustainability Report is a detailed, data-based review of the company's global environmental, social, and economic performance. The report is available online for viewing and downloading.

Alcoa Named Most Admired by Fortune Magazine
Alcoa was named one of Fortune Magazine's "Most Admired Companies" and the "Most Admired Metals Company" in the publication's annual report on reputation. Among all companies in all industries, Alcoa ranked second in terms of social responsibility.

Technology Breakthrough Partners Alcoa with GM
Alcoa is helping commercialize a new General Motors forming process for aluminum body and closure panels that are featured on the lift gate for the 2004 Chevrolet Malibu Maxx.

Alcoa Mill Products Receives Nissan Award
For the second year in a row, Alcoa Mill Products received the Quality Master Award from Nissan North America. The award is based on the evaluation of Nissan's suppliers by the company's engineering, manufacturing, product quality, purchasing, and production control units.

Alcoa Selected as "Industry Genius" For Environmental Achievement
Alcoa's environmental achievements earned the company inclusion in the book Industry Genius: Inventions and People Protecting the Climate and Fragile Ozone Layer by environmentalists Stephen O. Andersen and Durwood Zaelke.

Customer Need Drives Brazilian Recycling Solution
In 2003, Alcoa signed an agreement with three other companies to develop a technologically advanced recycling plant to recover aluminum from post-consumer aseptic packaging from customer Tetra Pak.

Assessments Explore Aluminum's Lifetime Environmental Effects
Life cycle assessments and modeling are helping Alcoa and the aluminum industry understand the metal's effects on the environment--from extraction and processing of raw materials through manufacturing, distribution, use, and recycling.

Taking the Safety Message to Schools
The Alcoa Schools Safety Initiative in Australia is based on the belief that the safety experiences and knowledge of Alcoa employees is valuable to the wider community, particularly young people.

Community Giving Topped $26 Million in 2003
Alcoa and Alcoa Foundation gave $26.8 million to Alcoa communities worldwide in 2003. Other highlights included a global Week of Service, a 47% increase in employee engagement, and a global Social Venture/Enterprise Forum.

Alcoa Grant Helps NYC with Disaster Response
Alcoa gave a $200,000 grant to the New York City Mayor's Fund to Advance New York that will be used to help educate residents on disaster response; specifically, what individual households should do to prepare for disasters.

We welcome your comments or questions on Alcoa's sustainability efforts. We won't necessarily reply to every e-mail we receive, but we do read and consider them all.

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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