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October 16, 2006

Alcoa Foundation Supports Better Housing Coalition Sustainable Home Development Project

RICHMOND, Va.--(BUSINESS WIRE)--Alcoa Foundation announced today that it is providing the Better Housing Coalition (BHC) of Richmond, Virginia with funding totaling approximately $137,000 over three years to support the construction of high performance, energy efficient homes for first time low to-moderate income homebuyers in a new BHC division called Winchester Forest. The Alcoa grants will be allocated to the cost of state-of-the-art energy efficient equipment and systems needed to ensure sustainable, energy efficiency homes in the new development.

“Alcoa Foundation actively invests in the quality of life in Alcoa communities worldwide. The BHC program for creating sustainable communities is an excellent example of investing in quality of life… a contemporary idea that enables families to own a home with minimal energy costs, thus making it possible for families to have more disposable income for other necessities of life. This program promotes pride in the community,” said Meg McDonald, President Alcoa Foundation.

BHC constructed homes are built for long-term affordability, and the materials, systems and spaces are designed for future additions and ease of maintenance for generations to come.

“Alcoa Foundation’s contribution is helping BHC create a healthy and sustainable community. With Alcoa Foundation support, we will be able to increase the energy efficiency in 11 homes for new homebuyers. BHC has a deep commitment to building sustainable communities where families can live, work and prosper,” said T.K. Somanath, BHC’s Executive Director.

Construction of the Winchester Forest housing plan is expected to commence in late 2007.

About Alcoa Foundation

Established in 1952, Alcoa Foundation is a global resource that actively invests in improving the quality of life in the countries around the world where Alcoa operates. The Foundation's grants address global and local needs in Areas of Excellence that include: Conservation and Sustainability, Global Education and Workplace Skills, Business and Community Partnerships and Safe and Healthy Children and Families. Alcoa Foundation manages Alcoa’s ACTION and Bravo! programs which recognize the volunteer efforts of employees with grants to the organizations they serve. For more information about Alcoa Foundation, visit www.alcoa.com, under Community.

About Alcoa

Alcoa (NYSE:AA) 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® foils and plastic wraps, Alcoa® wheels, and Baco® 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 44 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

About Better Housing Coalition

Better Housing Coalition (BHC) was established in 1988 by local civic leaders to provide creative, collaborative long-term solutions to increase affordable housing resources and revitalize communities in the Richmond, Virginia metropolitan area. BHC has been nationally recognized for innovative design, property management and successful resident support services. In 2002 they received the Maxwell Award for Excellence from the Fannie Mae Foundation and in 2006 the American Public Health Association named Winchester Greens a “Blue Ribbon.” Learn more at www.betterhousingcoalition.org