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March 25, 2002

Alcoa Foundation Increases Emphasis On Conservation and Sustainability

PITTSBURGH--(BUSINESS WIRE)--March 25, 2002--

Commits More than $2.7 Million to Encourage Young Leaders, Protect Forests, Promote Understanding of Linkages Between Business and the Environment

Reflecting its commitment to the environment, Alcoa Foundation announced today an expanded portfolio of investments to support conservation and sustainability. With grant amounts totaling more than $2.7 million over several years, the Foundation will invest in programs with the World Wildlife Fund, The Nature Conservancy, National Fish and Wildlife Foundation, World Resources Institute and the Student Conservation Association, among others. These grants are part of a sustained commitment by Alcoa Foundation and Alcoa to these environmental organizations, designed to build long-term partnerships and sustainable programs that provide lasting impact over time.

The grants are specifically designed to further focus areas of importance to Alcoa Foundation, including:

Developing the Next Generation of Conservation Leaders, particularly in emerging market countries in Latin America and Asia where Alcoa has an increasing presence;
Protecting Our Forests, with cash and land grants. Alcoa and Alcoa Foundation are providing the impetus for education in sustainable forestry management and supporting a novel, market-oriented approach to sharing the responsibility for conservation through a forest 'bank.' This initiative will build on Alcoa's effort to plant one million trees worldwide by 2008;
Promoting Sound Public Policy Research, by supporting research at a range of environmental organizations to ensure that conservation and sustainability work is informed by sound research; and
Understanding Linkages Between Business and the Environment, through curriculum development programs for business schools in North and Latin America and China; executive education; and field studies for business school students.

The Foundation's conservation and sustainability portfolio is an important extension to Alcoa's Environmental Strategy which includes reducing water use, air emissions and wastes sent to landfills. It also encompasses meaningful interaction with communities and environmental organizations to develop and implement sound environmental practices.

About Alcoa Foundation

Established in 1952, Alcoa Foundation is a global resource that actively invests in improving the quality of life in more than 25 countries around the world where Alcoa operates. In addition to community grants addressing local needs, the Foundation provides global grants focusing on Areas of Excellence, including: Conservation and Sustainability; Safe and Healthy Children and Families; Global Education in Science, Engineering, Technology and Business; Business and Community Partnerships; and Skills Today for Tomorrow. For more information about Alcoa Foundation, visit Alcoa's World Wide Web site at www.alcoa.com and click on "Community."

Summary of Key Alcoa Foundation Investments in Conservation and Sustainability

World Wildlife Fund, Russell E. Train Education for Nature Program - This program provides proven and potential conservation leaders with opportunities to expand their professional horizons with educational and training programs, and to take their new knowledge and practical experience back to their home countries to train others. Candidates are drawn from World Wildlife Fund's conservation programs that target marine and terrestrial ecoregions at risk and in need of immediate attention. Alcoa Foundation's grant supports conservation professionals from Brazil, China, Colombia, Mexico, Peru and Argentina. These scholars are developing solutions to the most pressing problems facing ecoregions around the world, including striking a balance between ecological and economic sustainability, preserving coral reefs and rain forests, and protecting endangered species.

The Nature Conservancy - Alcoa Foundation's grant will help to conserve, restore and sustain a global portfolio of high-profile forest sites spanning a range of ecological regions in Brazil, China, Mexico and the states of Indiana and Pennsylvania in the United States. The grant supports the launch of a unique, market-oriented approach to conservation that encourages timber owners in Indiana to deposit their logging rights in a 'forest bank' in exchange for small dividends. Additional conservation initiatives include an alternative energy program for villages in China, training programs for land managers in Brazil, conservation programs for old growth and forest interior animals in Pennsylvania, and development of plans to link nature reserves in Mexico.

World Resources Institute - WRI's Sustainable Leadership Initiative is designed to prepare business leaders to make complex sustainability and environmental decisions. Alcoa Foundation is the major sponsor of WRI's BELL (Business-Environmental Learning and Leadership) network. The sponsorship includes support for classroom curriculum in business schools in North and Latin America and China; practical training for business school teams through field studies with sustainable enterprises in Latin America; executive education; and the biennial report "Beyond Grey Pinstripes" that evaluates business school performance in environmental management education.

National Fish and Wildlife Foundation - As America's public forest land usage shifts from harvest to recreation and conservation, private forest lands will face extreme pressure for timber production. With a grant from Alcoa Foundation, the National Fish and Wildlife Foundation will engage private landowners in a habitat restoration program including one to better manage long-leaf pine in priority states. The grants will also enable NFWF to benchmark sustainable forestry practices, including: endangered species management on corporate lands, wildlife stewardship on managed forests, clear-cut size and logger education.

Student Conservation Association - As part of the Alcoa Foundation International Conservation Leadership Initiative, the Student Conservation Association will help youth and partner nonprofit organizations from Mexico and Brazil to develop expertise in conservation and park service. Working with SCA, college-age men and women from similar natural settings in Brazil and Mexico spend 12 weeks on duty in National Park Service preserves in the United States learning skills. After their training in the United States, they continue their internship experience with a nonprofit environmental organization serving in a sister park in their home country. At the completion of their internships, the students receive an award to further their education and environmental leadership training.