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April 9, 2010

Kleinfeld, Alcoa, Recognized for Service Leadership

NEW YORK--Alcoa (NYSE:AA) President and Chief Executive Officer, Klaus Kleinfeld, was last night honored for his personal commitment to national service, receiving the 2010 Ripples of Hope Award from City Year New York.

The Award recognizes Kleinfeld for his passion and dedication to community service and his commitment to building a positive future for all young people.

Accepting the award at a gala New York ceremony in front of 500 corporate, community, and philanthropic leaders, including Mayor Michael Bloomberg, Kleinfeld paid homage to the Alcoa volunteers who each day give time and energy to make the world a better place.

“This award from City Year belongs to all of the Alcoa employees who volunteer alongside City Year Corps members at PS 48 and at The Point Community Center in the South Bronx,” said Mr Kleinfeld.

“The private sector has a responsibility to contribute to the communities where they operate; this has been an important Alcoa value for decades. Alcoa’s relationship with City Year New York allows us to live up to our values by partnering our employees with the talented and dedicated Corps Members to achieve lasting and positive change for New York City’s students.”

City Year unites young people for a year of full-time service across the United States. They serve as tutors and mentors, running after-school programs, and leading youth leadership programs.

Since 2004, Alcoa Foundation funding of over $750,000 has made it possible for City Year Corp Members to make a difference in the lives of hundreds of children in the South Bronx, the poorest congressional district in the country.

The project has provided over 800 children with one-on-one literacy tutoring and provided a safe and welcoming after-school learning space for over 200 students each day.

Alcoa New York employees have been actively involved in the partnership since the beginning – providing career counseling and mentoring to City Year volunteers, and working directly with children in the South Bronx to deliver environmental, health and safety education and improve school and after-school facilities.

In honoring Klaus, City Year New York Executive Director Itai Dinour told the crowd, “We are excited to honor and celebrate Klaus Kleinfeld and our friends at Alcoa. Since 2004, Alcoa has served as a flagship partner investing in City Year and the Hunts Point community, to help the students of PS48 reach their academic potential.

“Alcoa’s commitment to New York City, to the education of its young students, and to the idea that young people, through a year of full time service, can tackle our nation’s greatest challenges is inspiring.”

About Alcoa

Alcoa is the world’s leading producer of primary aluminum, fabricated aluminum and alumina. In addition to inventing the modern-day aluminum industry, Alcoa innovation has been behind major milestones in the aerospace, automotive, packaging, building and construction, commercial transportation, consumer electronics and industrial markets over the past 120 years. Among the solutions Alcoa markets are flat-rolled products, hard alloy extrusions, and forgings, as well as Alcoa® wheels, fastening systems, precision and investment castings, and building systems in addition to its expertise in other light metals such as titanium and nickel-based super alloys. Sustainability is an integral part of Alcoa’s operating practices and the product design and engineering it provides to customers. Alcoa has been a member of the Dow Jones Sustainability Index for eight consecutive years and approximately 75 percent of all of the aluminum ever produced since 1888 is still in active use today. Alcoa employs approximately 59,000 people in 31 countries across the world. More information can be found at www.alcoa.com.

About Alcoa Foundation

Alcoa Foundation is a nonprofit U.S. corporate foundation with assets of approximately US$415 million. In addition to addressing locally identified needs in communities where Alcoa operates, Alcoa Foundation is focused on unlocking solutions to critical environmental sustainability challenges, including global climate change. Alcoa Foundation has been a long-term partner in Alcoa communities worldwide for more than fifty years, investing over US$515 million since 1952. The work of Alcoa Foundation is further enhanced by Alcoa’s thousands of employee volunteers, who in 2009 gave over 650,000 service hours to strengthen the social fabric of their communities. More information can be found at www.alcoa.com/foundation.

About City Year New York

City Year New York mobilizes 17-24 year olds to combat the high school dropout crisis by serving as tutors, mentors, and role models in high-need New York City public schools. In partnership with school and community leaders, City Year’s diverse teams identify and employ early intervention strategies focused on the three dropout risk factors (1) poor attendance, (2) disruptive behavior, (3) failure to read and do math at grade level. City Year’s corps members are in elementary and middle schools from before the first bell rings through the after-school program. They provide small group tutoring, ensure that students show up to school and get there on time, and create a positive school environment. Over the last three years, 12 schools that partner with City Year saw at least a 15% increase in students achieving proficiency or above on the English Language Arts Exam. Noteably, PS/IS 50 saw a 32% increase and PS 335 saw a 42% increase in students achieving this level. During the 2009 school year, 48 out of the 50 students tutored by City Year at PS 154 passed the ELA. At PS/IS 50, all of the students increased their ELA scores by an average of 20%. More information can be found at www.cityyear.org.