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November 4, 1998

Alcoa Makes Adjustments in Primary Aluminum Production

PITTSBURGH--November 4, 1998-- Alcoa will reduce primary aluminum production at Eastalco Works in Frederick, Maryland, by 30,000 metric tons a year (mtpy). The adjustment is being made at the 174,000-mtpy facility as former Alumax facilities are integrated into the Alcoa worldwide system. Approximately 150 salaried and hourly employees will be affected by the action. Eastalco is a joint venture between Alcoa and a Japanese consortium led by Mitsui & Co. Ltd. Alcoa operates Eastalco.

There will be no change in Alcoa's total primary aluminum output as offsetting increases at other plants will keep Alcoa's total primary aluminum production at its current level. Alcoa has had 450,000 mtpy of primary aluminum capacity idled since 1994.

Alcoa is the world's largest producer of aluminum and alumina. It has 250 operating locations in 30 countries.