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December 5, 2005

Alcoa Recognized as a Top Green Company by BusinessWeek Magazine and the Climate Group; Alcoa Cited As A Leader In Climate Change Over Past Decade And For Best Management Practices

PITTSBURGH--(BUSINESS WIRE)--Dec. 5, 2005--Alcoa (AA) announced today it has been named one of the Top Green Companies in the world by BusinessWeek magazine and the Climate Group in recognition of its performance in reducing greenhouse gas (GHG) emissions. Alcoa has been recognized by BusinessWeek as a top Company of the Decade and for Best Management Practices for its leadership on environmental issues while delivering strong financial performance.

The awards are detailed in a special report about climate change featured in BusinessWeek's December 12 issue. BusinessWeek selected the winners by teaming with the Climate Group, an international, non-profit organization dedicated to advancing business and government leadership on climate change, and Innovest Strategic Value Advisors, a leading Wall Street green investment research firm.

"We are pleased to be recognized among the best for our climate change initiatives, as this honor reflects our commitment at Alcoa to being part of the solution to this great challenge that faces our global community," said Randall M. Overbey, president, Alcoa Primary Metals Development. "At Alcoa, we have reduced our greenhouse gas emissions by building environmental excellence into our manufacturing process. We believe that the best way to build long-term benefits for all of our stakeholders is by combing our drive for environmental excellence, social responsibility and strong financial performance into everything we do."

Alcoa has a strong record of Environment, Health and Safety (EHS) performance. In addition to its environmental record recognized by BusinessWeek, Alcoa is universally seen as among the leaders in workplace safety, having reduced workplace incidents significantly. In the 12-month period ending November 30, 2005, 45% of Alcoa's 428 locations worldwide had zero recordable injuries, compared to 35.4% one year prior. Approximately 83% of Alcoa's locations worldwide had zero lost workdays, compared to 70.5% the previous year.

Alcoa was recognized by BusinessWeek as one of the Top Five Companies of the Decade for decreasing its emissions of perfluorocarbon (PFC) gas from smelters by 80 percent. The ranking is based on total reduction of GHGs in relation to a company's revenues and executive leadership on environmental issues in the last 10 years. Judges also honored Alcoa for its Best Management Practices of making climate change issues an executive priority. Alcoa has established a Climate Change Strategy Team that advises leadership and sets policy direction to implement changes. Alcoa's long-term environmental visions includes aggressive schedules for reducing its environmental impact across the board, including the goal of achieving a 25 percent reduction in GHG emissions from 1990 levels - a goal Alcoa achieved more than seven years ahead of the target date of 2010.

The Climate Group and Innovest Strategic Value Advisors, which specializes in analyzing companies' performance on environmental, social, and strategic governance issues, dedicated six months on identifying the world's low carbon leaders and recognizing the best among them. Winners were selected following a rigorous assessment by a diverse international jury made up of representatives from business, government and NGO communities.

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 named one of the top three most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com