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March 30, 2007

Peter Hong Joins Alcoa as Vice President and Treasurer

NEW YORK--Alcoa (NYSE:AA) announced today that Peter Hong, 48, will join the company as Vice President and Treasurer, effective April 11. He succeeds William B. Plummer, who resigned from Alcoa to join Dow Jones & Company. Mr. Hong will be responsible for all global treasury activities, including risk, cash, and capital management, as well as managing relationships with creditors, rating agencies and commercial banks.

Mr. Hong comes to Alcoa from Avaya Inc., a global leader in business communications, applications, software and services, where he was vice president and treasurer, since 2004. Prior to Avaya, he served as vice president and treasurer at Ingersoll-Rand Company. Earlier, he held several positions of increasing responsibility for Case Corporation, culminating at vice president, Investor Relations and Corporate Development, following Case’s merger with New Holland, N.V.

“Peter brings a wealth of experience to this position," said Chuck McLane, Alcoa Vice President and Chief Financial Officer. "He has a comprehensive understanding of financial markets, and he has demonstrated strong leadership in his previous roles. We are pleased to have Peter join our senior leadership team."

Mr. Hong obtained an MBA degree in Finance and Accounting in 1981 from Northwestern University’s Kellogg School of Management. His undergraduate degree is in Economics, also from Northwestern.