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April 7, 2000

Alcoa Acquires MCG Closures Limited

LONDON--April 7, 2000-- Alcoa Inc. and Wassall plc. announced today that Alcoa has acquired MCG Closures Limited from Wassall plc. The acquisition includes MCG Closures' plants near Birmingham, England; Rieti, Italy; and a distribution center in The Netherlands. Terms of the deal were not disclosed.

MCG will become part of Alcoa Closure Systems International (CSI), one of 25 Alcoa business units and a leading global manufacturer of plastic closures for the beverage industry. CSI's European operations include plastic closure manufacturing facilities in Spain, Hungary and Russia, with an aluminum closure facility, closure application machinery plant and R&D Center in Germany. All are managed from a European headquarters near London. The combined CSI-MCG company will employ over 1000 employees in Europe.

"The acquisition of MCG Closures supports our strategy of giving customers access to a pan-European closure system encompassing closures, application machinery and technical service," said Marcus Billman, general manager of Alcoa CSI Europe. "By adding the MCG plants in the UK and Italy and pooling our research and development facilities, we will be able to offer even better manufacturing and logistics coverage. Our combined product range will also be broader, offering customers a wider selection of closure systems."

Mr. Billman added, "This acquisition brings together companies whose activities and geography are complementary. Customers will benefit from future efficiencies by combining management, logistics, manufacturing and research and development activities on a pan-European basis while maintaining local presence for customer service. MCG is an existing licensee of Alcoa CSI's proprietary compression molding manufacturing technology. This will facilitate a rapid integration of MCG products into the Alcoa CSI product portfolio."

Alcoa is the world's leading producer of primary aluminum, fabricated aluminum and alumina. It is active in all major segments of the industry: mining, refining, smelting, fabricating and recycling.
Some of the statements made in this press release are forward looking. Actions resulting from the acquisition by Alcoa CSI Europe of MCG Closures Limited may differ from those implied. Factors such as changes in economic conditions in the markets we serve may cause future actions to differ from those predicted today.