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December 5, 2001

Power Failure At Alcoa's Warrick, Indiana Smelter

PITTSBURGH--December 5, 2001-- Alcoa confirmed today that approximately two-thirds of the primary aluminum produced at its Warrick, Indiana, smelter has been lost due to two power failures within the past 24 hours at its on-site generating station. The remaining capacity is operating and stable. Warrick's nameplate capacity is 300,000 metric tons per year.

There were no injuries. The causes of both power failures are under investigation.

The primary metal produced at Warrick is used exclusively by Alcoa to produce aluminum can sheet products for the food and beverage industry.

"We are taking action to address this event and expect to continue meeting our customers' needs," said Alcoa Chairman and CEO Alain Belda.

"The length of the disruption to primary aluminum production and the costs associated with this event are being evaluated," Mr. Belda said.