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August 26, 2004

Alcoa Secures Contract for Offshore Petroleum Platform in Brazil

PITTSBURGH, Pa. & SANTO ANDRE, Brazil--(BUSINESS WIRE)--Aug. 26, 2004--Alcoa (NYSE:AA) announced today that Alcoa Aluminio S.A., its Brazilian affiliate, is supplying aluminum extrusions for the construction of a semi submersible offshore petroleum platform to be built in the Campos Basin off the coast of Brazil.

Part of the project, designated P52, will be the first platform in South America to use an all-aluminum accommodation module, which was ordered by Petrobras, the Brazilian state oil company.

Alcoa was awarded the US$1.60 million contract from the Technip/Fels Setal consortium to supply the aluminum extruded profiles that Alcoa developed from the customer design specifically for this floating production unit (FPU). The custom-made extruded profiles are being produced with a 5,500-ton press, the largest extrusion press in South America, located at the Alcoa Aluminio plant in Santo Andre, Brazil.

Petrobras contracted Technip/Fels Setal to build the hull and main facilities of the P-52 platform, which is expected to be ready for commercial operation by the end of 2006. The US$774 million contract involves engineering, supplying, building and construction. P52 is expected to produce 180,000 barrels of oil per day at full capacity and nine million standard cubic meters per day of natural gas. The Campos Basin is the country's richest oil production area accounting for more than 80 percent of Brazil's total oil output. It is located about 70 miles north of the Rio de Janeiro shoreline.

"At Alcoa, our focus is always on the customer," said Otavio A.R. Carvalheira, director of the Extrusions Business in Brazil. "Our ability to produce these large extruded pieces for Technip/Fels Setal and to deliver them on schedule demonstrates that Alcoa helps its customers succeed by partnering with them."

Alcoa is the world's leading producer of primary aluminum, fabricated aluminum and alumina facilities, 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, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 120,000 employees in 42 countries and has been a member of the Dow Jones Industrial Average for 45 years and the Dow Jones Sustainability Indexes since 2001. More information can be found at www.alcoa.com.