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January 5, 2004

Alcoa Selected to Collaborate With Ferrari On Next-Generation Aluminum Space Frame

MODENA, Italy--(BUSINESS WIRE)--Jan. 5, 2004--Alcoa (NYSE:AA) Strategic Partner uses its Pan-European Resources to Provide Aluminum Structural Solutions for High-Performance Sports Car Maker's Latest Model: the 612 Scaglietti

Alcoa Advanced Transportation Systems (AATS) announced today that it has been selected by Ferrari as the sole provider for the next-generation aluminum space frame for its new, 12-cylinder, front engine 2+2 sports car, the 612 Scaglietti. Full-series production begins this year.

"Alcoa is pleased to have been chosen to collaborate with Ferrari once again to help meet the design, interior space and performance challenges of what is destined to become one of the world's most exciting automobiles," said Rick Milner, President of Alcoa Automotive Transportation Systems. "The Ferrari 360 Modena has successfully demonstrated the capability of a highly-engineered aluminum structure to significantly increase interior space and occupant comfort while not only maintaining, but improving, driving performance. We also believe that the demonstrated safety performance of Alcoa's aluminum structures will be very important in helping Ferrari satisfy Europe's demanding safety requirements."

Alcoa's Pan-European Connections

Production of Ferrari space frame components illustrates Alcoa's pan-European manufacturing and supply capabilities. Cast, extruded and fabricated components are produced in Hungary, Germany and the Netherlands and shipped to Modena, Italy, where they are assembled into the finished space frame at an Alcoa facility inside Ferrari's Scaglietti Works.

Ferrari/Alcoa History

Ferrari and Alcoa first began working together in 1994, when the company was seeking a development partner for an aluminum-structured vehicle to replace its older models. In June of that year, Alcoa assumed the primary design and engineering role for the aluminum spaceframe body structure development, with full production beginning in 1998. To date, Alcoa has supplied more than 12,000 frames to Ferrari for its Modena model -- a model recognized today as one of the best performing sports cars in the world.

Alcoa is the world's leading producer of primary aluminum, fabricated aluminum and alumina, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers.

In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap(R) foils and plastic wraps, Alcoa(R) wheels, and Baco(R) household wraps. Among its other businesses are vinyl siding, closures, precision castings, and electrical distribution systems for cars and trucks. The company has 127,000 employees in 41 countries. More information can be found at www.alcoa.com.