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January 18, 2008

Alcoa Announces Dividend

NEW YORK--The Board of Directors of Alcoa (NYSE:AA) declared (a) a quarterly common stock dividend of 17 cents per share payable February 25, 2008 to shareholders of record at the close of business on February 8, 2008 and (b) a quarterly dividend of 93.75 cents per share on Alcoa’s $3.75 cumulative preferred stock payable April 1, 2008 to shareholders of record at the close of business on March 14, 2008. Alcoa has paid a quarterly dividend on its common stock for more than 60 years.

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 107,000 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.