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August 2, 1999

Alcoa Acquires Remaining 50% Interest in A-CMI From Hayes Lemmerz

PITTSBURGH, PA and NORTHVILLE, MI.--August 2, 1999-- Alcoa Inc. and Hayes Lemmerz International, Inc. announced today that Alcoa has acquired the remaining 50% interest in A-CMI from Hayes Lemmerz. A-CMI is a joint venture formed in 1995 between Alcoa and CMI International to produce cast aluminum products for the automotive industry. Hayes Lemmerz purchased CMI International in February 1999.

Terms of the purchase agreement were not disclosed.

A-CMI has operating locations in Kentucky, Michigan and Lista, Norway. Current employment is approximately 900.

Alcoa is the world's leading producer of primary aluminum products, fabricated aluminum products and alumina. The company serves customers worldwide in the packaging, aerospace, construction and automotive industries. Its automotive products include design and engineering of lightweight structures as well as cast, extruded, forged and sheet components.

Hayes Lemmerz is one of the world's leading global suppliers of automotive and commercial highway wheels, brakes, suspension, structural and other lightweight components. The company has pro forma sales of close to $2.5 billion with 40 plants, eight joint venture facilities and 15,000 employees worldwide.