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April 7, 1999

Alcoa Completes Acquisition of Pechiney's Bright Products Business

PITTSBURGH, Pa., U.S.A. and PARIS, France--April 7, 1999-- Alcoa and Pechiney announced today that Alcoa has completed the acquisition of the bright products business of Pechiney's Rhenalu rolling plant located at Castelsarrasin near Toulouse, France. The two companies had signed a letter of intent last October. Terms were not disclosed.

The bright products business will become a part of the Flat Rolled Products segment of Alcoa Europe, an Alcoa business unit. Headquartered in Lausanne, Switzerland, Alcoa Europe is responsible for Alcoa's primary, flat-rolled products, extrusion and end products and Kawneer architectural products businesses in Europe.

Alcoa is the world's largest producer of aluminum and alumina and participates in all major segments of the industry: mining, refining, smelting, fabricating and recycling.

Pechiney Rhenalu is the aluminum mill products division of the Pechiney Group, the leading European producer and the world's fourth largest producer of primary aluminum. Pechiney Rhenalu is the leading European producer of can stock and technical rolled products, with a strong position in heavy plate for the aerospace industry.