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September 2, 2005

Alcoa Launches Offer to Purchase Approx. $11 Million Stake Remaining in Russian Facility From Minority Shareholders

PITTSBURGH--(BUSINESS WIRE)--Sept. 2, 2005--Alcoa (NYSE:AA) today announced that it has begun an offer to purchase the remaining 18 percent of the Belaya Kalitva (BKMPO) fabricated aluminum plant in Russia still held by shareholders following its acquisition from Rusal in January 2005.

A subsidiary of Alcoa, ZAO Prime Alum, will offer shareholders 7.50 rubles a share (approximately 26 cents a share) to tender their shares between September 12 and October 12, 2005. There are approximately 43 million shares of BKMPO held by minority shareholders. Alcoa holds an 82 percent supermajority position in the facility. Alcoa purchased the plant, along with the Samara fabricating facility, to support its growth plans in the commercial transportation, aerospace, automotive and packaging markets to better serve customers not only in Russia, but throughout Europe, Asia and the Americas.

Prime-Alum does not intend to make any additional offers for shares from minority shareholders after the conclusion of the Tender Offer. Shareholders seeking additional information may contact Alcoa's agents for this offer:

UFG                Polis Invest                  Polis Invest
10 Povarskaya      Stanislavskovo Street 167/25, Zavodskaya Street 1
Street             office 603                    Belaya Kalitva 347045
Moscow 121069      Rostov-on-Don 344022          +7 (86313) 631 78
+7 (095) 797 2991  +7 (8632) 634 327

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