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September 21, 2004

Alcoa to be Honored by Brazil Foundation

NEW YORK--(BUSINESS WIRE)--Sept. 21, 2004--Alcoa will be honored this evening by the Brazil Foundation for its social investment in education in Brazil through Instituto Alcoa and Fundacao Alcoa (Alcoa Foundation) in Brazil. The Brazil Foundation, which is based in New York, is a non-profit organization dedicated to projects that promote social change in Brazil in five key areas: education, health, human rights, citizenship and culture. Alcoa Chairman and CEO Alain Belda will be recognized at the organization's Second Annual Gala to be held at the Cipriani in New York City.

Alcoa has a long-standing relationship with Brazil, having established Alcoa Aluminio, its Brazilian affiliate, in 1967. Mr. Belda was instrumental in the creation of Instituto Alcoa in Brazil in 1994, when he was president of Alcoa Aluminio. Instituto Alcoa, modeled after the U.S.-based Alcoa Foundation, was founded to provide ongoing and meaningful community investment in the communities where Alcoa Aluminio operated.

Mr. Belda was also instrumental in encouraging collaboration among other foundations in Brazil.

The mission of the Alcoa Foundation is to be a global resource that actively invests in the quality of life in Alcoa communities worldwide. Under Mr. Belda's leadership as Chairman and CEO, Alcoa and Alcoa Foundation continue to donate millions of dollars in community investment grants in Alcoa communities worldwide.

NOTE TO EDITORS: In the word "Fundacao" above, there should be a cedilla under the "c" and a tilde above the second "a".