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February 28, 2005

Alcoa's AWAC Completes 250,000 MT Alumina Expansion in Suriname

PITTSBURGH--(BUSINESS WIRE)--Feb. 28, 2005--Alcoa (NYSE:AA) today announced that Suralco, owned by Alcoa World Alumina and Chemicals - a global alliance between Alcoa and Alumina Ltd., with Alcoa holding 60 percent - has completed the 250,000 metric ton per year (mtpy) expansion of its alumina refinery in Paranam, Suriname six months ahead of schedule. The 250,000 mtpy expansion, completed at a total cost of approximately $65 million or approximately $260/ton, brings the facility's total capacity to approximately 2.2 million mtpy.

Suralco and an affiliate of BHP Billiton own 55% and 45%, respectively, of the Paranam facility.

"The expansion has gone well, and we've been ahead of schedule throughout the project, which wasn't slated to be finished mechanically until the third quarter of 2005," said Warren M. Pedersen, Suralco's managing director.

Alcoa's presence in Suriname extends back to 1916. The business, now known as Suriname Aluminum Company, L.L.C. (Suralco), originally focused on mining bauxite. In 1958, Suralco signed an agreement with the government of Suriname to develop the country's hydropower and bring the aluminum industry to Suriname. The company continues to explore opportunities to grow in the country.

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 131,000 employees in 43 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.