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May 15, 2006

Alcoa Donates 20 Million ISK (US$280,000) to Projects in Skaftafell and Jokulsar-Canyon Iceland

REYKJAVIK & NEW YORK--(BUSINESS WIRE)--May 15, 2006--Alcoa (NYSE:AA) announced today that it will donate 20 million ISK (US$280,000) in support of the national parks in Skaftafell and Jokulsar-Canyon, Iceland. Alcoa Executive Vice President Bernt Reitan presented the grant to Sigridur Anna Thordardottir, Minister for the Environment, at a ceremony in the Cabinet Hall.



The contribution will be used for various purposes, including an exhibition in the Jokulsar-Canyon Information Center on the environment, history and cultural heritage of the conservation area. It will also be used to establish tourist facilities in Lakagigar, within the range of Skaftafell National Park, and the improvement of hiking trails in that area.

In his speech, Mr. Reitan said: "Alcoa has been watching the Minister for the Environment's preparations for establishing Vatnajokull National Park and the ambitious ideas that underpin the project. Alcoa announced at that time that the company would support the establishment of the National Park, and although it has not been formally launched, we want to honor that promise and grant a contribution towards the development of areas which will be incorporated into the future Vatnajokull National Park. The world must have wild, natural places which have been preserved for public interest in the future. Thus, we take meaningful steps towards a sustainable future. Vatnajokull National Park will be a national park of grand proportions and diversity."

The intended Vatnajokull National Park will be Europe's largest conservation area, reaching from the south coast of Iceland, across the central wilderness to the northern part of the country.

A report made by a Committee on the Establishment of Vatnajokull National Park, appointed by the Ministry for the Environment, reveals that the area north of Vatnajokull holds soil formations and landscapes incomparable anywhere else in the world. The intended Vatnajokull National Park will attract many tourists to Iceland. When complete, Vatnajokull National Park will cover an area of 15,000 square kilometers. The development is expected to be completed in four to six years

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 closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 129,000 employees in 43 countries and has been named one of the top most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com

Note to Editors: In the above news release, there should be an umlaut over the "o" and an accent mark over the "a" in "Jokulsar." There should be an accent mark over the second "i" in "Sigridur" and also an accent mark over the "i" in "Lakagigar." Also, there should be an umlaut over the "o" in "Vatnajokull."