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August 22, 2007

Jamalco Refinery Remains Closed; Assessing Damage From Hurricane Dean; Company Declares Force Majeure

NEW YORK--Alcoa (NYSE:AA) announced today that production at its 1.4 million metric ton Jamalco alumina refinery in Clarendon, Jamaica remains halted while the company assesses damage caused by Hurricane Dean. Alcoa temporarily curtailed production at the refinery last Saturday as a safety measure in advance of the hurricane.

Preliminary reports indicate that the port from which Jamalco ships alumina did sustain substantial damage in the storm. The bauxite mine and refinery suffered less damage, but are not operational due to loss of power. A more complete assessment of the damages and the duration of the stoppage are being conducted.

In light of the temporary shutdown of the facility, damage to the port, and likely resulting delays in shipments, the company has declared force majeure to its customers.

Re-start schedule, production lost and financial impact will be reported after a comprehensive assessment can be safely concluded.

Jamalco is 55 percent owned by Alcoa World Alumina and Chemicals and 45 percent owned by the Government of Jamaica. Alcoa World Alumina and Chemicals is a global alliance between Alcoa and Alumina Ltd., with Alcoa holding 60 percent.