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February 27, 2001

Alcoa and Michigan Avenue Partners Complete Sale of Longview Smelter

PITTSBURGH and CHICAGO--February 27, 2001-- Alcoa Inc. and Michigan Avenue Partners (MAP) jointly announced today that the sale of the 204,000-metric ton-per-year Longview, Wash., aluminum smelter to MAP has been completed. Alcoa was required to sell an interest in Longview as a condition of the European Union approval of Alcoa's acquisition of Reynolds Metals Company. Agreement on the sale was announced last December. Terms were not disclosed.

Michael Lynch, chairman of MAP, announced it is renaming the facility, Longview Aluminum, L.L.C. and that additional details regarding the plans for the operation of the smelter would be announced later this week.

MAP is a Chicago investment group and its affiliates include Longview Aluminum, L.L.C., McCook Metals L.L.C., Scottsboro Aluminum L.L.C., Great Lakes Metals L.L.C. and Great Lakes Processing L.L.C. McCook Metals is the second largest aluminum plate company in North America, producing specialty products for aircraft, aerospace and defense industries, such as the aluminum-lithium alloy plate for NASA's Space Shuttle Program and for military aircraft.

Alcoa is the world's largest leading producer of primary aluminum, and alumina. It is active in all major segments of the industry -- mining, refining, smelting, fabricating and recycling.

Editorial contacts:
Joyce Saltzman
Alcoa Inc.

Paul Frank
McCook Metals

Investor Relations:
Charles D. McLane
Alcoa Inc.