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November 13, 2000

Alcoa Elects William B. Plummer Vice President and Treasurer; Robert G. Wennemer named Vice President of Pension Fund Investments & Analysis; Joseph C. Pellegrino to Retire

PITTSBURGH--November 13, 2000-- Alcoa announced that its Board of Directors elected William B. (Bill) Plummer, 42, a vice president and treasurer of Alcoa. He succeeds Robert G. Wennemer, 48, who will become vice president of pension fund investments and analysis. Mr. Wennemer replaces Joseph C. Pellegrino, 58, who will retire in the first quarter of 2001 after 30 years of service with Alcoa.

Biographical information follows:

William B. Plummer
Mr. Plummer joined Alcoa in his present position in October 2000. Prior to joining Alcoa, Mr. Plummer held executive and financial management positions with Mead Corporation, a leading paper and forest products company, and General Electric Company. His most recent position was president of Mead's Gilbert Paper Division located in Menasha, Wisconsin. He also has served as vice president of corporate strategy and planning and as treasurer at Mead. During Mr. Plummer's seven years at General Electric, he held executive financial management assignments including vice president, Equity Capital Group for General Electric Capital Corporation in Stamford, Connecticut. Earlier, he held financial marketing positions at both Kidder, Peabody & Co. and Goldman, Sachs & Co.

Mr. Plummer received an MBA degree from Stanford University in 1986. He obtained both a bachelor's and master's degree in aeronautics and astronautics from the Massachusetts Institute of Technology in 1980 and 1982, respectively.

Robert G. Wennemer
Mr. Wennemer joined Alcoa in 1996 as vice president and treasurer. He previously was treasurer of BMW of North America, Inc., the largest foreign subsidiary of BMW AG, the German automaker, a position he held since 1987. He also spent 12 years with Nabisco Brands, where he served in a variety of financial positions, the last being director of international finance.

Mr. Wennemer holds an MBA degree from Fairleigh Dickinson University in Madison, New Jersey and a bachelor's degree in accounting from LaSalle College in Philadelphia.

Joseph C. Pellegrino
Dr. Pellegrino has spent a major part of his 30-year career with Alcoa managing the company's pension fund investments. He has served as vice president of pension fund investments and analysis for Alcoa since 1991. Dr. Pellegrino joined Alcoa in 1970 as a corporate planning analyst. He later was named manager, investment performance and, subsequently, manager, pension fund investments and analysis. In 1978 he became assistant treasurer and in 1986, director of pension fund investments and analysis. Dr. Pellegrino is a certified financial analyst and is the recipient of the Harold Stonier Fellowship in Banking award. He graduated from Carnegie Mellon University in Pittsburgh in 1963 with a degree in chemical engineering. He holds an MBA degree from the University of Pittsburgh, a Ph.D in finance from Northwestern University, and a Juris Doctor degree from Duquesne University in Pittsburgh.

Editorial Contact:
Joyce A. Saltzman