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March 18, 2005

Alcoa 2004 Sustainability Report Details Corporate Social Responsibility

PITTSBURGH--(BUSINESS WIRE)--March 18, 2005--Alcoa (NYSE:AA) today announced it has released its 2004 Sustainability Report, a detailed review of the company's global environmental, social and economic performance.

The 2004 report highlights Alcoa initiatives that demonstrate the company's commitment to a sustainable future, while detailing future challenges. This is the third year the report has been published.

"At Alcoa, we blend business performance with environmental, social and community leadership every day," said Chairman and CEO Alain Belda. "Our long-term business success is set on a solid foundation made up of these three building blocks."

Some highlights from this year's report include the following:

-- Alcoa achieved its 2010 goal of reducing greenhouse gas emissions by 25% below its 1990 level. The company continued to make good progress toward its 2020 environmental goals, with a 15.3% reduction in process water use since 2000 as well as a 57% reduction in the volume of waste sent to landfills.

-- Financial performance continued to improve in 2004, with full-year income from continuing operations increasing 33% over 2003 on record annual revenues. Debt continued to be paid down and was reduced by approximately $2 billion since 2002, while Alcoa continued to invest in growth projects.

-- In 2004, Alcoa had the best lost workday and total recordable injury rates in the company's history. For the first time, the lost workday rate dropped below 0.1, representing an improvement of more than 25% from 2003. Alcoa's total recordable injury rate improved for the 18th consecutive year, and 81% of the company's locations had zero lost workdays.

The company's commitment to a sustainable future was recognized by several outside organizations in the last year. Alcoa was named to both the Dow Jones Sustainability Index and Fortune Magazine's "Most Admired Companies." In addition, Alcoa was named one of the top three most sustainable corporations in the world by Corporate Knights and Innovest Strategic Value Advisors.

"This year, in response to feedback we received from our stakeholders, we published a separate executive summary for the report," said Anita Roper, Alcoa's director of sustainability. "We again included a Global Reporting Initiative (GRI) index so that our performance could be easily compared to the performance of other organizations."

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 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.