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October 9, 1998

Alcoa Signs Memorandum of Understanding with China State Nonferrous Metals Industry Administration

PITTSBURGH, Pa., and BEIJING, China--October 9, 1998-- Alcoa and the China State Nonferrous Metals Industry Administration announced today that they have signed a memorandum of understanding to study the feasibility of Alcoa and China State Nonferrous Metals Industry Administration forming a joint venture in China involving several refining, smelting and fabricating facilities there. Alcoa and the Administration will jointly conduct the evaluation over the next six to 12 months.