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April 1, 2004

Misha Riveros-Jacobson Joins Alcoa as President of Advanced Transportation Systems Business; Alcoa Vice President Rick Milner to Retire

PITTSBURGH--(BUSINESS WIRE)--April 1, 2004--Alcoa (NYSE:AA) announced today that effective immediately Marta I. (Misha) Riveros-Jacobson, 40, has joined the company as President of Alcoa Advanced Transportation Systems, responsible for integrating the manufacturing capabilities Alcoa has developed in the automotive area and applying them to the company's entire transportation segment. She succeeds L. R. (Rick) Milner, 58, who will retire on August 1, 2004.

Ms. Riveros-Jacobson joins Alcoa from GE Plastics Mexico, where she was general manager for sales and distribution of engineered plastics materials to customers in the automotive, packaging and consumer, and business equipment markets. GE Plastics Mexico is a $200 million business serving more than 800 customers.

"Misha has successfully led the transformation of GE's business in Mexico and has been successful in supplying the automotive and commercial vehicle segments. Misha's operational experience, organizational capability, and proven leadership make her uniquely qualified for this important role," said William R. Christopher, Alcoa executive vice president and group president, Aerospace, Automotive and Commercial Transportation.

During the transition, Mr. Milner will continue to lead Alcoa's automotive market lead team and focus on a number of customer growth initiatives.

"Rick's contributions to developing Alcoa's presence in the automotive markets as well as the company's strategic growth initiatives have been of immense value. We appreciate his dedication and service to this important market," Christopher continued.

Biographical information on Ms. Riveros-Jacobson and Mr. Milner follows.

Marta I. (Misha) Riveros-Jacobson

Marta Riveros-Jacobson joined Alcoa on April 1, 2004 as president of Alcoa Advanced Transportation Systems, the business unit charged with integrating manufacturing capabilities developed for the automotive area, particularly in design and fabrication, to Alcoa's entire transportation segment. She is located in Cleveland, Ohio.

She joined Alcoa from GE Plastics Mexico, where she was general manager responsible for sales and distribution of engineering plastics materials from GE Plastics to customers in Mexico.

Ms. Riveros-Jacobson joined GE Plastics in 1989 as a production engineer at GE Silicones in Waterford, N.Y., and later served as a project engineer in facilities engineering at the site. Since then, she has held a number of positions in commercial technology, marketing, sourcing and supply chain. In her previous role, she served as a total cost-out Six Sigma Master Black Belt for GE Plastics Americas. Achieving Six Sigma Black Belt requires demonstrated proficiency in statistical tools and expertise in leading and teaching others.

Born in the United States, Ms. Riveros-Jacobson has lived in several countries including Peru, Colombia, Guatemala, Costa Rica, France, Spain and Japan.

She has been honored for her career achievements and most recently was named one of the "Top 10 Most Influential Women in Mexico" by Expansion Magazine and was an invited panelist at the International Women's Forum in 2003 along with Marta Sahagun (First Lady of Mexico); Xotchil Galvez (Mexican Cabinet Member) and Isabel Allende (author).

Ms. Riveros-Jacobson is a Henry King Stanford alumnus of the University of Miami's medical program and an honors graduate of Rensselaer Polytechnic Institute, Troy, N.Y., where she earned a bachelor's degree in mechanical engineering.

L. R. (Rick) Milner

Rick Milner was named to the newly created position of president, Alcoa Advanced Transportation Systems in June 2003. He is also the leader of Alcoa's automotive market sector team.

Previously, Rick was president of Alcoa's automotive castings, structures and engineering businesses, a position he assumed in 1998, with accountability for expanding the use of aluminum in automobiles for the company and integrating Alcoa's technical and commercial initiatives in these growing automotive markets globally.

Rick joined Alcoa in 1968 in a sales position in Dallas, followed by a marketing position in aerospace forgings in Cleveland and sales assignments in Detroit and Garden City, New York. He then began a series of marketing and sales management positions including in 1975 becoming marketing manager for the Wire, Rod and Bar Division in Massena, New York and two years later sales manager in Dallas. In 1980, he was named general manager - commodity, marketing and supply for Alcoa of Australia in Melbourne, Australia. In 1984, he returned to the U.S. as general manager of the Castings Division based in Pittsburgh, then two years later he was named general manager of Primary Products, marketing. In 1987, he was named director of corporate development and elected a vice president of Alcoa in 1991.

Rick is a member of the Board of Trustees of The Brothers' Brother Foundation, an international charity, and serves on the Board of Trustees for Mitchell College in New London, Conn. He is an economics graduate of Bucknell University.