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September 30, 1999

Alcoa and Reynolds Receive Requests for Additional Information Under Hart-Scott-Rodino Act

PITTSBURGH and RICHMOND--September 30, 1999-- Alcoa (NYSE: AA) and Reynolds Metals Company (NYSE: RLM) announced today that they have each received requests for additional information from the Department of Justice (DOJ) under the Hart-Scott-Rodino Act concerning their previously announced merger agreement. These second requests extend the waiting period under the Hart-Scott-Rodino Act during which the parties are prohibited from closing the transaction pending DOJ review. The merger is conditioned on the expiration of the Hart-Scott-Rodino waiting period and other customary conditions, including Reynolds stockholder approval.

The companies said that they intend to respond promptly to the DOJ request.

On August 19, 1999, Alcoa and Reynolds announced that they had reached a definitive merger agreement under which Reynolds' shareholders would receive 1.06 Alcoa shares for each Reynolds share they own.