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May 11, 2007

Alcoa Named to ''World's Most Ethical Companies'' List by Ethisphere Magazine

NEW YORK--Alcoa (NYSE:AA) was named one of the World’s Most Ethical Companies by Ethisphere Magazine, a national publication dedicated to illuminating the important correlation between ethics and profit. Companies were recognized for their strong leadership in ethics and compliance, advancement of industry discourse on social and ethical issues, and positive engagement in the communities in which they operate.

“At Alcoa, our Values guide our behavior at every level of the organization. We are proud of this accomplishment which recognizes our commitment to ethical leadership and corporate social responsibility,” said Alcoa Chairman and CEO Alain Belda.

Ethisphere Magazine offersinsight on gaining market share and creating sustainable competitive advantage through ethical business practices and corporate citizenship to global Board members, CEOs, General Counsel, Chief Ethics and Compliance Officers and institutional investors.

The editors of the magazine chose fewer than 100 companies from several thousand organizations that they analyzed over a six-month period. “This was a rigorous process that identified a select group of companies that were unequalled in their industries for their commitment to ethical leadership and corporate social responsibility. These organizations go beyond making statements about doing business ethically; they translate those words into action,” said Alex Brigham, executive editor of Ethisphere Magazine.

The process included reviewing companies’ codes of ethics, litigation and regulatory infraction histories; evaluating investment in innovation and sustainable business practices; looking at companies’ activities to improve corporate citizenship; studying nominations from senior executives, industry peers, suppliers and customers; and working with consumer action groups for feedback and rating.

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 including flat-rolled products, hard alloy extrusions, and forgings, Alcoa also markets Alcoa® wheels, fastening systems, precision and investment castings, structures and building systems. The company has 122,000 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 the Ethisphere Council

The Ethisphere Council was created in 2006 by Corpedia, a leader in risk assessment and eLearning for ethics and compliance, the Practising Law Institute, a non-profit organization committed to enhancing the professionalism of attorneys and others and LexisNexis, a leading provider of comprehensive information and business solutions; and formed with support from such leading corporations as Deutsche Telekom, Time Warner, Dresser Industries, Avaya and Kraft, the council is dedicated to the research, creation, and sharing of best practices in ethics, compliance, and corporate governance among its membership companies. It also focuses on the development and advancement of its members through increased efficiency, innovation, tools, mentoring, advice, and unique career opportunities. More information on membership can be found at http://www.ethisphere.com.