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January 3, 2001

Alcoa Concludes Sale of Sherwin Alumina Refinery to BPU Reynolds, Inc.

CORPUS CHRISTI, TEXAS and PITTSBURGH--January 3, 2001-- BPU Reynolds, Inc. and Alcoa jointly announce today that the sale of the Sherwin alumina refinery to BPU Reynolds was completed on December 31, 2000. Agreement on the sale, which was required by the U.S. Department of Justice when Alcoa acquired Reynolds Metals Company, was announced in October.

The plant will be named the Sherwin Alumina Company and will operate as a division of BPU Reynolds, Inc.

(Alcoa NYSE: AA)

Fraser P. Seitel
Emerald Partners

Joyce Saltzman