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January 19, 1998

Alcoa Elects Jeffrey Hennion Assistant Treasurer

PITTSBURGH--January 19, 1998-- Alcoa announced that Jeffrey R. Hennion, 31, has been elected an assistant treasurer of Alcoa, responsible for the company's banking and financial markets activities.

Mr. Hennion joined Alcoa in 1989 as an analyst in Alcoa's treasury operations in Pittsburgh. In 1992 he was named senior treasury analyst - Europe, located in Lausanne, Switzerland. One year later, he returned to Pittsburgh where he began a series of financial management positions in the corporate finance, banking and financial risk areas before assuming his present position.

Prior to joining Alcoa, Mr. Hennion was employed in a finance position with the International Brotherhood of Electrical Workers in Washington, D.C.

He is a 1988 graduate of Northwestern University with a degree in economics. He received an M.B.A. degree from Duquesne University in Pittsburgh in 1995.

He and his wife, Elizabeth, and two sons reside in Upper St. Clair, a suburb of Pittsburgh.