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September 10, 2004

Alcoa Begins Environment Impact Assessment For Proposed Aluminum Smelter in Trinidad and Tobago

PITTSBURGH--(BUSINESS WIRE)--Sept. 10, 2004--Alcoa (NYSE:AA) today announced the start of an environmental impact assessment under terms of reference established by the Trinidad and Tobago Environmental Authority (EMA) for a potential aluminum smelter at LaBrea, located in southwest Trinidad.

This follows the signing in May this year by Alcoa and the Government of the Republic of Trinidad and Tobago a memorandum of understanding (MOU) for a state-of-the-art, low emission smelter with a capacity of at least 250,000 metric tons per year. The feasibility study resulting from the MOU is expected to be completed late this year. If the study results are positive, the project will be presented to the Board of Alcoa and the Government of Trinidad and Tobago for an investment decision early in 2005.

Alcoa has repeated its promise to consult widely within the community as the environmental assessment proceeds, and has engaged local company, Ecoengineering Consultants Limited, to assist and guide Alcoa in completing the requirements laid down by the EMA.

In making the announcement Randy Overbey, Alcoa's President, Primary Metals Development, said that Alcoa and its government partner, the National Energy Corporation, welcomed the Environmental Management Authority's requirement for a full environmental impact assessment.

"We would not contemplate building and operating any facility, and we would not expect any community to welcome us, until we were confident that the site is appropriate, we could operate safely, and without causing harm to people's health or the adjacent environment. The EIA is essential for that confidence.

"Communication and community consultation is an important part of the EIA process and we have already been working with community leaders to help us understand how best to provide information and answer questions people might have. We'll continue with that work as the EIA process unfolds," he said.

Overbey also said that he was pleased that a local environmental engineering and science firm had competed successfully for the consultancy work associated with the EIA process. "Their expertise and local knowledge will be most valuable in assuring the thoroughness of the environmental assessment. It's also pleasing to see this proposal beginning to generate local employment and business opportunity even at this stage, while we are still working through the feasibility of building a smelter at LaBrea," said Overbey.

About Alcoa

Alcoa is the world's leading producer and manager 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 41 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.