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December 16, 2004

Alcoa Properties Listed on National Register of Historic Places; North Carolina, Tennessee Properties Deemed Historically Valuable

PITTSBURGH--(BUSINESS WIRE)--Dec. 16, 2004--Alcoa (NYSE:AA) announced today that two of its hydroelectric developments in North Carolina have been entered in the National Register of Historic Places, the nation's list of historically significant cultural resources that are worthy of preservation. The NRHP is administered by the National Park Service within the Department of the Interior.

The Alcoa properties involved are the Cheoah and Santeetlah hydroelectric developments in the Robbinsville vicinity of Graham and Swain counties. Both of the developments are part of the Tapoco division of Alcoa Power Generating Inc. (APGI), which supplies electric power to Alcoa's Tennessee Operations, an aluminum smelting and rolling mill, located in Alcoa, Tenn.

The Alcoa properties in North Carolina join two other Tapoco properties that already obtained the significant designation - Alcoa's Calderwood and Chilhowee hydroelectric developments located in Blount and Monroe counties in Tennessee.

The four Alcoa properties meet the strict NRHP criteria because of their historical, architectural and engineering significance and their contribution to Tennessee's rich history of industrial development. Alcoa has preserved the notable engineering and architectural design of the developments by retaining their original poured-concrete exteriors and their ancillary structures, such as gatehouses and gantry cranes. To add to its historical significance, the Cheoah Development served as a model for the construction of many other dams and powerhouses across the country.

"Alcoa has been involved in hydroelectric power development and generation in Tennessee and western North Carolina since 1909," said Marc Pereira, vice president of Energy and Procurement. "The Tapoco Project is operated to generate hydroelectric power for Alcoa's Tennessee Operations, which has existed in the foothills of the Great Smoky Mountains for more than 75 years. Alcoa is proud of these properties and is committed to working with state and federal agencies to protect their integrity and historical significance."

The Cheoah development is located on the Little Tennessee River and consists of a dam and powerhouse. The Cheoah development was the first of the Tapoco developments constructed and was completed in 1919.

The Santeetlah development was built in 1928 and is located on the Cheoah River. The Santeetlah development consists of a dam, pipeline/tunnel, and powerhouse.

In October, President George W. Bush signed historic land exchange legislation that allowed for the relicensing of Tapoco's four Alcoa hydroelectric dams and enables the preservation of more than 10,000 acres of land in the Great Smoky Mountains National Park.

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 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