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January 17, 2006

Alcoa Recognized as Worldwide Leader in Ethical Covalence Rankings

PITTSBURGH--(BUSINESS WIRE)--Jan. 17, 2006--Alcoa (NYSE:AA) announced today that it was pleased to be selected as one of the top 10 leading multinational companies in the 2005 Covalence Ethical Ranking, a barometer of how multinationals are perceived in the ethics field. Alcoa ranked 8th in the Best Ethical Score and 3rd in the Best Ethical Progress categories. Covalence closely monitors 300 multinational companies in ten major sectors including 220 companies that are classified as the largest market capitalization in the Dow Jones World Index. Only the top ten performing companies are ranked in the two categories. Alcoa also received the Best Ethical Score in the Mining/Metals sector.

"This recognition supports our reputation as a company that has strong values at its core. Our values guide us in how we treat our employees, stakeholders, customers and community. It is critical to the long-term success of Alcoa," said Alain Belda, Chairman and CEO of Alcoa.

Based in Geneva, Switzerland, Covalence tracks the ethical reputation of multinational companies through a reputation index based on quantifying data, which are classified according to 45 criteria including labor standards, environmental impact, social responsibility, and international presence. Through its ethical quotation system, EthicalQuote, Covalence integrates thousands of documents from media, NGOs, academia, and other sources to produce the results. The company uses EthicalQuote to provide global and leading reputation tools to multinational corporations, financial institutions, public organizations and other players in the growing corporate social responsibility and socially responsible investment markets. Found in 2001, the enterprise is backed by the Graduate Institute of Development Studies at the University of Geneva, and several NGOs.

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 129,000 employees in 42 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