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February 25, 2008

Alcoa and Alcoa Foundation Report 2007 Philanthropic Giving of $49 Million in Alcoa Communities Worldwide

PITTSBURGH--(BUSINESS WIRE)--Alcoa (NYSE:AA) and Alcoa Foundation, one of the largest corporate foundation in the United States, announced today philanthropic giving in 2007 exceeded $49.0 million. Now entering its 56th year, Alcoa Foundation has invested over $465 million since its inception in 1952.

“Over the years, Alcoa’s goal has remained clearly focused on making a positive contribution in our communities. This year is no exception,” said Chairman and CEO Alain Belda. “The greatest value we bring is using our ability to make a lasting difference in our communities through our resources, volunteerism, and sustainable partnerships. There is no better testament to a company’s values than to improve the lives of our fellow citizens.”

Special Areas of Focus

In 2007, Alcoa Foundation continued to build its conservation and sustainability portfolio of strategic longer-term partnerships, funding larger investments and projects, which address sustainability. The Foundation is supporting climate change projects totaling more than $8 million and has entered into partnership with various groups to encourage action to address climate change, inform public policy, build capacity, and raise understanding and awareness about this global issue.

During 2007, Alcoa employees volunteered more than 634,000 hours in community service projects. This earned non-governmental organizations (NGOs) in 28 countries approximately $3.7 million in grants under Alcoa’s employee engagement programs.

Alcoa Foundation also placed emphasis on programs designed to build global education and workplace skills, with focus on access and retention, and career awareness and training. Grants totaling more than $1.1 million supported more than 40 programs in community colleges, technical schools, apprenticeships and entry-level worker readiness programs. Another 31 grants, totaling more than $1.1 million, were made to programs designed to foster math and science studies by young people, particularly girls.

Highlights of 2007:

--		Alcoa Foundation made 848 grants totaling $28 million to 1,111
		organizations in more than 36 countries, including investments in
		new Alcoa communities such as Iceland.

--		In 17 countries with developing economies, Alcoa Foundation
		contributed over $8 million for 107 projects focused on eradicating
		hunger, increasing access to universal education, combating
		diseases and ensuring environmental sustainability, aligning with
		the Millennium Development Goals and national development plans to
		halve extreme poverty by 2015.

--		Recycling was targeted as a major sustainability issue, with over
		30 projects totaling more than $1 million assisting community-based
		recycling programs from Indianapolis and Morristown in the USA to
		Arad in Romania, Amorbieta in Spain, and across Quebec in Canada
		and Victoria, Australia. These projects are working at lifting
		recycling rates by targeting major sporting venues and schools,
		using innovative recycling facilities and education campaigns to
		raise awareness, set targets and measure results.

--		Long-term partnerships were developed with NGOs in conservation and
		sustainability projects:

		-- Conservation International and Affiliates in Brazil, China and
		Guinea;
		-- Jane Goodall Institute in China and Guinea;
		-- Rainforest Alliance in Honduras, Mexico and Vietnam;
		-- The Nature Conservancy in Australia, China and United States;
		-- World Resources Institute in Brazil, China and the United States; and
		-- World Wildlife Fund in China.

--		A strengthened focus on employee volunteering, including Alcoa's
		second annual Worldwide Month of Service last October, involved
		more than 17,000 employees in 784 events at more than 200 locations
		in 36 countries. A record 47,000 people participated in volunteer
		activities during the event--up nearly one-third from 2006.
		Volunteer efforts included service to nearly 37,000 community
		residents, planting of more than 12,000 trees and direct assistance
		to nearly 200 schools.

--		Alcoa Foundation's $8.6 million, six-year Conservation and
		Sustainability Fellowship Program is advancing knowledge and
		supporting exemplary research and project work in conservation and
		sustainability by more than 30 Academic Fellows and 42 Practitioner
		Fellows worldwide.

--		Alcoa Foundation developed new partnerships with leading NGOs to
		address climate change issues and promote community action to
		decrease greenhouse gas emissions. Alcoa believes individual action
		on climate change is also essential. Alcoa Foundation has awarded a
		grant to the Pew Center for Global Climate Change for a
		community-focused project to raise awareness and encourage action
		about climate change in Alcoa communities throughout the U.S. This
		program builds off Alcoa's successful "Make an Impact" project with
		Greening Australia, which is centered upon a dedicated web-based
		carbon calculator to track individual, household and community
		emissions.

--		Alcoa and Alcoa Foundation jointly sponsored a variety of arts and
		cultural exhibitions and projects designed to foster cultural
		development and exchange, including:

		-- The Solomon R. Guggenheim Foundation's exhibition, Art in
		America: 300 Years of Innovation, in Beijing and Shanghai,
		Moscow and Bilbao, Spain. The exhibition was seen by more than
		1.5 million people.

		-- The Amazonia Brasil multicultural exhibition that brings the
		inherent diversity, beauty, wealth and knowledge of the Amazon
		Forest to the world, giving voice to local communities and
		forest peoples by portraying the Amazon from the viewpoint of
		those who live and work there. Amazonia Brasil will be in New
		York City from April - July 2008.

Community Investments around the Globe

Alcoa’s global footprint has created opportunities for comprehensive partnerships in communities old and new, and new opportunities to extend our corporate philanthropy. Examples of 2007 investments in Alcoa communities:

Brazil: Associação Comunitária dos Moradores da Vila Cabral Miranda in Juruti and União dos Moradores da Vila Coquilho in São Luis, Brazil, the construction of two community schools in rural areas. When these schools are completed, 885 children will be able to pursue education near their homes and beyond the minimum level.
USA: In Davenport, Iowa, Alcoa Foundation assisted the Handicapped Development Center through a grant for the expansion of the facility and physical therapy programs to serve more people with disabilities. In Charleston, S.C., Alcoa Foundation is supporting an apprenticeship program with the United States Trident Technical College Foundation to train entry-level workers with basic industrial and employability skills in an area of high economic growth in the manufacturing sector.
Iceland: In the northern part of the country, Alcoa Foundation is supporting local NGOs in a number of social and economic development projects including a home for the disabled, transportation services for children in rural areas, to exercise and health programs, promoting tourism and producing renewable fuel with organic waste from farms.
Germany: Deutsche Umwelthilfe e.V. is receiving Alcoa Foundation support for a national project to restore the wetlands in several areas of the country. Restoring the wetlands is part of a larger initiative to mitigate the harmful effects of global warming by decreasing the carbon footprint of communities.
Australia: Alcoa Foundation contributed to the Clontarf Foundation Academies to support Indigenous male youth through their teenage years to adulthood (10-20 years of age), and equip them to be functional, contributing members of society with healthy levels of self-esteem and life skills.
Guinea: In the Boke region, the Jane Goodall Institute is training community leaders in sustainable natural resource management. This is helping increase the odds of chimpanzee survival by focusing on sustainable economic development and developing community capacity.
China: The Forum of Environmental Journalistsin Beijing is supported to provide an environmental program to educate volunteers at the 2008 Olympic Games about "green" practices. The long-term benefit will be increased public awareness on environmental protection, role models for "green" practices.
Mexico: Alcoa Foundation is supporting Freedom from Hunger for a regional capacity-building program with a national NGO – Alcance - that will offer integrated educational services to local institutions working to alleviate chronic hunger for the rural poor living near or around the communities of Acuña, Torreón, Piedras Negras and Juárez, Mexico.
Russia: Alcoa Foundation Technical Education Support Program is in its third year with partners from Samara State Aerospace University, Don State Technical University, and Moscow University of Steel and Alloys. Grants have been awarded to the Institute of International Education, the program administrator. To date, 240 engineering students have received scholarships, 26 faculty members have received development stipends for research and publications, and the teaching and research capacities of two universities were developed with purchases of instructional and research equipment.
Vietnam: The Rainforest Alliance is introducing its coffee certification program with farmers in the Central Highlands of Vietnam to improve production, to enhance biodiversity and other natural resources, and to develop markets for certified sustainable coffee from Vietnam.

About Alcoa

Alcoa is the world leader in the production and management of primary aluminum, fabricated aluminum and alumina combined, through its active and growing participation 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, and building systems. The Company has 97,000 employees in 34 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 Alcoa Foundation

Alcoa Foundation is a separately constituted nonprofit U.S. corporate foundation with assets of approximately $542 million. Its mission is to actively invest in the quality of life in Alcoa communities worldwide. Throughout its history, the Foundation has been a source of positive community change and enhancement, with nearly $466 million invested since 1952.

The Foundation's grants address global and local needs in over 36 countries by partnering with Alcoa communities around the world to make a difference. Global and local grantmaking is responsive to the needs and aspirations of Alcoa communities and marshals the combined expertise, energies, and values of Alcoa and Alcoa Foundation to provide a world-class standard of excellence in corporate citizenship.

In 2007, Alcoa and Alcoa Foundation invested a combined total of $49.0 million in community programs in 36 countries, focusing on four areas of excellence: conservation and sustainability, global education and workplace skills, business and community partnerships, and safe and healthy children and families. Alcoa Foundation manages the Alcoa employee volunteer programs ACTION and Bravo! For more information, visit www.alcoa.com, under Community.