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September 10, 2004

Alcoa Foundation Aids Jamaica In Anticipation of Hurricane Ivan

PITTSBURGH--(BUSINESS WIRE)--Sept. 10, 2004--Alcoa Foundation today announced that it has awarded a $25,000 grant to the Jamaica Red Cross as the island braces for Hurricane Ivan, expected to be the most powerful hurricane to hit the Caribbean in a decade.

The grant is part of a longstanding commitment that Alcoa and Alcoa Foundation have of providing support to victims of natural disasters in Alcoa communities worldwide.

Alcoa operates the Jamalco alumina refinery, a joint venture with the Government of Jamaica. In anticipation of the hurricane, Alcoa announced yesterday that it had temporarily shuttered the refinery, which has 1.25 million metric tons of capacity. Jamalco employs nearly 565 people in the country and contributed approximately US$119 million to the local economy in taxes, payroll and statutory deductions, donations, community development projects, and through the purchase of local services and materials in 2003.

"Through this grant Alcoa Foundation hopes to help this community that Alcoa has been a part of for nearly half a century," said Jerome Maxwell, managing director of Jamalco. "As soon as the Red Cross notified Jamalco that it was preparing for Hurricane Ivan, Alcoa Foundation began the grantmaking process to get these funds into the community as soon as possible. Alcoa Foundation is committed to helping Alcoa communities in their time of need."

Alcoa has been a part of the Jamaican community since 1959 with the formation of Alcoa Minerals of Jamaica, then a wholly owned subsidiary of Alcoa. While the operation began with bauxite mining, a refinery was later built and a series of upgrades has brought the capacity up to 1.25 million tonnes. Between 1976 and 1998, Alcoa Minerals of Jamaica sold 50% of the operations to the Jamaican government, with Alcoa as the managing partner.

About Alcoa Foundation

In 2003, Alcoa Foundation made $15 million in grants around the world. Communities where Alcoa has a presence are the primary focus of its grantmaking programs. Through disaster relief grants and employee engagement initiatives like ACTION and Bravo!, additional resources are made available to our communities. The Foundation's grants address global and local needs in Areas of Excellence that include: Conservation and Sustainability, Global Education and Workplace Skills, Business and Community Partnerships and Safe and Healthy Children and Families. For more information about Alcoa Foundation, visit www.alcoa.com, under Community.

About Alcoa

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, 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