NEW YORK- February 21, 2007 -Alcoa (NYSE:AA) announced today that it has established an Innovation Center of Excellence with leading universities in Russia to work on research and development projects focused on innovative mining, refining and smelting technologies.

"By establishing relationships with leading universities, national labs and industry partner research and development organizations in growing countries, Alcoa is multiplying its knowledge pool and is continuing to position the company on the cutting-edge of innovations within our key markets," said Mohammad Zaidi, Executive Vice President, Market Strategy, Technology and Quality. "By collaborating with the best and brightest around the world that have expertise in the sciences at the foundation of our key markets, we are creating a powerful leveraging engine."

Alcoa has signed agreements with Moscow State University in Moscow, St. Petersburg State Mining Institute in St. Petersburg, and Ural Polytechnic University in Ekaterinburg to work on research and development projects focused on transformational technologies in mining and refining. This complements the projects already started by Alcoa in Russia in the field of research. As of 2005, Alcoa Foundation has been supporting a major program in Russia to support education in three key technical universities in Moscow, Samara and Rostov-on-Don, the three key regions where the company has its offices and production facilities.

"Today’s business climate demands collaboration between business and universities, which Alcoa has been doing for years," said Dave Olney, Vice President of Technology and Alcoa Business System (ABS) for Alcoa World Alumina. "The scientific community in Russia has a distinguished reputation, and we are excited by the initial energy between our researchers and these universities."

Alcoa’s Innovation Center of Excellence in St. Petersburg, Russia, is part of a broader open innovation business model that focuses leveraging R&D resources in rapidly developing countries. Last month, Alcoa announced that it signed a memorandum of understanding (MOU) with India’s Council of Scientific & Industrial Research (CSIR) to partner in collaborative research projects that address critical global issues such as energy efficiency, alternative and renewable energy sources, environmental technologies as well as multi-material engineered solutions. In China, Alcoa is working with Northeastern University (NeU) in Shenyang and Central South University (CSU) in Changsha, both of which are under the direct administration of the Ministry of Education of China. The collaboration between Alcoa and NeU and CSU focuses on innovative process technologies, energy efficiency, and nanotechnology.

About Alcoa Technology

Alcoa’s global technology organization is comprised of thousands of scientists, engineers and researchers around the world dedicated to discovering and developing the next-generation of Alcoa products, processes and services. Alcoa’s scientific community is connected globally to research centers and universities in Russia, China, India, Europe and the United States. Founded on the innovative spirit of Charles Martin Hall and his patent that sparked the entire aluminum industry, Alcoa has more than 2,600 active patents today. The company also owns the world’s largest light metals research and development center, one of only two light metals R&D centers in the world. Alcoa annually invests approximately 1% of its revenues in R&D, which is helping to build a foundation for Alcoa’s future.

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® 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 123,000 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

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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