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February 9, 2001

Alcoa Adjusts Alumina Refining and Aluminum Fluoride Production

PITTSBURGH--February 9, 2001-- Alcoa Inc. announced today that it will adjust its alumina refining and aluminum fluoride production.

Effective immediately, Alcoa World Alumina is reducing the operating rate at its Point Comfort, Texas refinery to between 1.6 - 1.9 million metric tons per year (mtpy) compared with its rated capacity of 2.3 million mtpy. The move is in response to decreased external and internal demand for alumina. Production levels at Point Comfort will be evaluated in light of future supply commitments. Worldwide, Alcoa's alumina capacity is 14.1 million mtpy. Based on supply available from the company's other refineries, the full output from Point Comfort is not needed at this time.

Additionally, Alcoa said that effective March 31, 2001, it will temporarily curtail production of aluminum fluoride at its Fort Meade, Florida, facility due to reduced demand for the product. Fort Meade has a rated capacity of 24,000 mtpy and was operating at approximately two-thirds of rated capacity. Aluminum fluoride is used primarily in the aluminum smelting process.

Alcoa World Alumina, which is a global alliance between Alcoa and WMC, Ltd. of Australia, operates alumina refineries and bauxite mines in seven countries. Alcoa is the world's largest producer of primary aluminum, fabricated aluminum, and alumina and participates in all segments of the industry: mining, refining, smelting, fabricating and recycling.

Editorial Contact:
Bonita A. Cersosimo

Investor Relations:
Charles D. McLane