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March 23, 2011

Alcoa Foundation to Fund $100,000 Scholarship in Honor of Bill Christopher

CLEVELAND--(BUSINESS WIRE)--The Alcoa Foundation announced today plans to create a $100,000 scholarship in honor of Bill Christopher, former Group President of Alcoa Engineered Products and Solutions and member of the Chairman’s Counsel. The scholarship recognizes Christopher’s 36 years of service to Alcoa and his legacy of community leadership. He will retire April 1.

Each year for ten years, the Bill Christopher Alcoa Leadership Scholarship will award one student in the Cleveland, Ohio, area with a $10,000 scholarship - $2,500 per year for four years of college. The scholarship will support students who demonstrate leadership potential and Alcoa’s corporate values of promoting diversity, inspiring service and rewarding excellence – values embodied by Bill Christopher.

“Bill’s ability to foster a sense of pride and purpose has defined his leadership style and skill in building high performing teams. His mission to promote volunteerism and community leadership was a leading factor in Alcoa’s record-breaking number of volunteer hours in 2010,” said Paula Davis, President, Alcoa Foundation. “A scholarship is the best way we could honor a man who has given so much to help others succeed.”

Since moving to Cleveland in 1996, Christopher has made significant contributions to the Greater Cleveland community. Bill currently serves as chairman for the Greater Cleveland Partnership (GCP) and heads the Air Demand Force focused on growing the demand for air service at Cleveland Hopkins Airport and maintaining the hub for Cleveland following the Continental/United merger. Christopher was also the past chairman of GCP’s Government Affairs Council. He served on the Alcoa Foundation Board of Directors and established a program at Alcoa Engineered Products and Solutions that promotes best practice sharing and reward and recognition for teams that demonstrate exceptional community leadership.

“It is through partners like the Alcoa Foundation that we are able to make college more accessible to students who possess the integrity, drive and determination to be successful leaders,” said Lee Friedman, Chief Executive Officer of College Now Greater Cleveland, the organization that will manage administration of the scholarship. “The Bill Christopher Alcoa Leadership Scholarship is a wonderful tribute to an inspiring leader.”

About Alcoa

Alcoa (NYSE:AA) is the world’s leading producer of primary and fabricated aluminum, as well as the world’s largest miner of bauxite and refiner of 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 nine 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 one of the largest corporate foundations in the U.S., with assets of approximately US $420 million. In addition to addressing local needs in communities where Alcoa operates, Alcoa Foundation is focused on promoting environmental stewardship, enabling economic and social sustainability, and preparing tomorrow's leaders through education and learning. Alcoa Foundation was founded more than 50 years ago and has invested more than US $515 million since 1952. Alcoa employees share their energy, passion and purpose to make a difference in our communities through the Alcoa Volunteers Program, which last year recorded 590,000 hours of service to 9,400 charitable organizations. Their time was matched with US $4.2 million in Alcoa volunteer grants. More information can be found at www.alcoa.com/foundation.

About College Now Greater Cleveland

College Now (formerly Cleveland Scholarship Programs) provides Greater Cleveland students with guidance and access to funds to prepare for and graduate from college. For more than 40 years, our goal has been to help students pursue educational opportunities that empower them to embark on rewarding careers and strengthen our community. College Now assists 20,000 students each year, delivering college access and success advising, financial aid counseling, and scholarship services in schools, in the College Now Resource Center and through community-based programs. For more information, visit www.collegenowgc.org.