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November 9, 1998

K. W. Buechel Elected President of Alcoa Foundation

PITTSBURGH--November 9, 1998-- Alcoa announced today that Kathleen W. Buechel has been elected president of Alcoa Foundation effective January 1, 1999. She succeeds F. Worthington Hobbs III who will retire from Alcoa. Ms. Buechel is presently vice president of the Foundation. Mr. Hobbs has been a director of Alcoa Foundation since 1986 and president of the Foundation since February of 1991.

Biographical information follows:
Ms. Buechel is a native of Pittsburgh, and is a 1977 graduate of Brown University with an A.B. degree in international relations and political science. In 1988, she received a masters degree in public administration from the John F. Kennedy School of Government at Harvard University. She joined Alcoa in 1981 as a staff writer in the public relations department in Pittsburgh. She held several positions in the department, including publication editing, executive speech writing, media relations and issues management posts. In 1988, Ms. Buechel moved to Alcoa's packaging division, with responsibility for policy issues related to the Company's recycling and packaging businesses.

Ms. Buechel actively participates in civic and non profit organizations. She is currently president of Grantmakers of Western Pennsylvania, a membership association of 70 other foundations and trusts in the region. She is vice president of the Board of Winchester Thurston School in Pittsburgh, and chairs the school's educational policy committee, and is a board member of Oakland Catholic High School also located in Pittsburgh. In addition, Ms. Buechel serves on the Advisory Board of the Pembroke Center for Teaching and Research on Women at Brown University and serves on the national Board of WEPAN, Women in Engineering Programs & Advocates Network, to advance the participation of women in engineering. She is a member of the Associates Committee of the Women's Center and Shelter, where she is also a former Board member. Ms. Buechel previously served as an officer and Board member of the YWCA of Greater Pittsburgh, and is a graduate of Leadership Pittsburgh.

As vice president of Alcoa Foundation, Ms. Buechel has worked to extend the foundation's global grantmaking. She has also focused on education, workforce development, violence prevention and public policy-related grantmaking. She was elected vice president in 1990 and a director of Alcoa Foundation in September of this year.

Ms. Buechel, her husband, Frederick N. Egler, Jr., and two children reside in the Oakland section of Pittsburgh.

Mr. Hobbs joined Alcoa in 1970 following an 11-year naval career that involved service in destroyers, submarines and the White House. Mr. Hobbs' career with Alcoa has involved assignments in corporate development, field sales, marketing, international staff, human resources, public affairs and corporate communications. From 1981 to 1983, Mr. Hobbs was vice president and general manager of Alcoa's Suriname Aluminum Company in Suriname, South America. Mr. Hobbs has been active in a number of national organizations, including the Contributions Council of the Conference Board, Independent Sector, The Foundation Center in New York, The Salvation Army, the American Red Cross and the United Way. In Pittsburgh, he chairs the World Affairs Council and, in January, will become chairman of the Advisory Board for the Salvation Army.