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December 6, 2004

Frank Feder Named President of Alcoa Latin America

NEW YORK & SAO PAULO, Brazil--(BUSINESS WIRE)--Dec. 6, 2004--Alcoa (NYSE:AA) announced today that Franklin (Frank) L. Feder, 53, has been named President of Alcoa Latin America, based in Sao Paulo, Brazil. He will oversee Alcoa's businesses in South America, coordinate growth activities in the region, and work closely with government and communities to optimize Alcoa's profile in the country. He also is a Vice President of Alcoa. Mr. Feder succeeds Josmar Verillo, 52, who plans to dedicate more time to his family farming business and to the AMARRIBO, the NGO dedicated to fight corruption in the Brazilian Public Sector.

Mr. Feder has had a long association with Alcoa Aluminio, Alcoa's fully integrated aluminum business in Brazil. Mr. Feder joined Alcoa Aluminio in 1990 as Director of Corporate Planning under Alain Belda, who is now Chairman and CEO of Alcoa. He then served as Chief Financial Officer for Alcoa Aluminio from 1994 until 1999.

"I have worked side-by-side with Frank for more than two decades both in Brazil and now in the U.S. His knowledge of Brazil, his deep experience in Alcoa, and his analytical and strategic capabilities make him the right leader to lead Alcoa's Latin America operations," said Alain Belda, Chairman and CEO of Alcoa.

In 1999, Mr. Feder transferred to the United States, where, from 1999 to early 2001, he served in Alcoa's Corporate Development group in Pittsburgh. In 2001, he assumed his current position of Vice President - Analysis and Planning for Alcoa, based in New York. Before joining Alcoa, Mr. Feder was a Vice President and Partner with Booz-Allen & Hamilton. He also held management positions at Technomic Consultores, a management consultancy, and Adela Investment Company, a private development bank, all located in Sao Paulo.

Mr. Feder graduated from the Getulio Vargas Foundation in Sao Paulo in 1972 with a degree in business. He also obtained an MBA degree in 1977 from IMD in Lausanne, Switzerland.

Mr. Feder will relocate to Sao Paulo, Brazil in the first quarter of 2005.