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January 15, 2002

Dr. Ernesto Zedillo Appointed to Alcoa's Board of Directors

PITTSBURGH--(BUSINESS WIRE)--Jan. 15, 2002--Dr. Ernesto Zedillo, 50, former president of Mexico, has been appointed to the board of directors of Alcoa. There are 10 directors currently on Alcoa's board of directors.

In making the announcement, Alcoa Chairman and CEO Alain Belda said, "Dr. Zedillo's broad experience in both government and private industry, with his knowledge of global markets and economies, will be an asset to Alcoa in helping Alcoa set its global growth agenda. Dr. Zedillo's remarkable work in transforming and reviving the economy in Mexico has given him a permanent place in the history of that country."

Dr. Zedillo was elected president of Mexico in 1994 and served until 2000. Since leaving office, he has joined the board of directors of Proctor & Gamble Company and Union Pacific Corporation. He also has become a member of the Trilateral Commission, accepted a position on the advisory boards of the Council of Foreign Relations and the Institute for International Economics, and accepted membership on a panel of experts advising the World Trade Organization on the challenges and opportunities confronting the global trading system. Dr. Zedillo holds a doctoral degree in economics from Yale University.