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September 25, 2000

Alcoa to Recommence Stock Buy-Back Program

PITTSBURGH, Pa.--September 25, 2000-- Alcoa announced today that it will immediately begin repurchasing stock under its previously authorized stock repurchase program. Alcoa has approximately 868 million shares outstanding.

The company from time to time buys back shares of its outstanding common stock with open-market purchases. The stock will be used for employee benefit plans and general corporate purposes.

Editorial Contact:
Bonita A. Cersosimo

Investor Relations:
Charles D. McLane