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November 5, 1999

Alcoa and ACX Close Sale of Golden Aluminum; Agreement Reached with DOJ for Sale of Ft. Lupton

PITTSBURGH, Pa., and GOLDEN, Colorado--November 5, 1999-- Alcoa Inc. and ACX Technologies, Inc. announced today that they have completed the sale of substantially all the assets of Golden Aluminum Company, a subsidiary of ACX, to Alcoa.

Golden Aluminum's operations include a shuttered rolling facility in San Antonio, Texas, and a rolling facility in Ft. Lupton, Colorado that currently produces up to 70 million pounds of coated and mill finish sheet per year, primarily for food and beverage containers.

The parties had signed a letter of intent regarding the sale in August 1999. Alcoa announced at that time a plan to sell the Ft. Lupton facility and retain the San Antonio plant for development work and non-can sheet production. Alcoa has reached an agreement with the U.S. Department of Justice that provides for the Ft. Lupton sale under a consent decree. The consent decree was filed in U.S. District Court earlier today.