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March 1, 2002

Alcoa Acquires Engineered Plastic Components

MATTAWAN, Mich. & FRANKLIN, Tenn.--(BUSINESS WIRE)--March 1, 2002--Alcoa (NYSE:AA) and Engineered Plastic Components, Inc. (EPC) announced today that Alcoa Fujikura Ltd. (AFL), an Alcoa business, has acquired 100% ownership of EPC.

This acquisition will make EPC the centerpiece of AFL's growing automotive components business and will provide EPC with the means for continued growth as an automotive components supplier.

AFL Automotive is one of the top five global suppliers of electrical distribution systems and components. EPC is a major supplier of precision molded plastic components and assemblies for use in electrical systems for the automotive industry as well as selected products for telecommunications and medical use.

Robert T. Alexander, president of AFL Worldwide Automotive, said, "EPC is an outstanding organization and an excellent company. This acquisition provides AFL with the opportunity to consolidate our other component companies with EPC into a single business unit. Overall, this supports AFL's strategy of providing higher value to a broader range of customers with new products integrating more functions and capability." Ronald A. Molitor, president of EPC, stated, "This creates a great opportunity for both EPC and AFL to continue our growth and secure a prosperous future for our companies and employees."

EPC is an ISO9001, ISO14000, QS9000 and VDA 6.1 registered firm that produces injection molded plastic components and assemblies for use in electrical and electronic systems for the automotive industry and in selected applications for telecommunications and medical markets. Formed in 1986, EPC's North American facility is located in Mattawan, MI. In 1995, EPC Europe began operation in Dundalk, Ireland to better serve its growing European customer base. EPC employs approximately 800 people worldwide.

Alcoa is the world's leading producer of primary aluminum, fabricated aluminum, and alumina. Among its related businesses are precision castings, fiber optic cables, and electrical distribution systems for cars and trucks. It has 129,000 employees in 38 countries.

AFL is a joint venture between Alcoa Inc. and Fujikura Ltd. of Japan. Alcoa is the majority owner of AFL. It is a global full service supplier of electrical/electronic distribution systems and electronic components in North America and Europe. AFL employs approximately 40,000 people in its worldwide automotive business.