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November 4, 2008

Shining Prospect's Rio Shares Transferred

PITTSBURGH--Alcoa (NYSE:AA) today announced the shares held in Rio Tinto plc by Alcoa and Chinalco, which were held under a custodian agreement with Lehman Brothers International Europe, have been transferred to a new custodian acting on behalf of Shining Prospect. Shining Prospect is the special purpose vehicle used by the parties to purchase the shares.

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.