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June 28, 2000

Alcoa to Curtail Production at Troutdale Aluminum Smelter

PITTSBURGH--June 28, 2000-- Alcoa announced today that it will temporarily curtail all production at its 121,000-metric-ton-per-year (mtpy) primary aluminum smelter in Troutdale, Oregon, which is currently operating at 80,000 mtpy. Curtailment will begin immediately. The curtailment will affect about 525 hourly and salaried employees at the facility.

Alcoa President and CEO Alain Belda said, "For the Troutdale smelter to be competitive, extensive upgrades to its 1940's technology and large capital expenditures are needed to meet Alcoa's safety, environmental and economic performance standards. We regret the impact this will have on our employees and we will work to make this transition as smooth as possible." Belda continued, "Assuming success in our inert anode development, retrofitting this smelter in conjunction with a restructured work environment will be a consideration."

The company said that the contracted power that is made available by the curtailment will be shifted to other Alcoa smelters in the Northwest. At this time, the company does not anticipate restarting additional capacity beyond the approximately 200,000 metric tons previously announced.

Alcoa's total primary aluminum capacity is 4.3 million metric tons.

Editorial Contact: Bonita A. Cersosimo
1 412-553-4462

Investor Relations: Charles D.McLane
Randall Killeen
1 412 553-2231