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April 23, 2002

Alcoa Board Creates Public Issues Committee; Committee, Chaired by Dr. Judith Gueron, to Oversee Alcoa's Environmental and Social Responsibility Performance

PITTSBURGH--(BUSINESS WIRE)--April 23, 2002--Alcoa Inc. (NYSE:AA) today announced that its Board of Directors has formed a Public Issues Committee that will work with management to oversee the company's environmental and social responsibility performance.

The new Board committee, to be chaired by Dr. Judith Gueron, President of Manpower Demonstration Research Company and an Alcoa director since 1988, will help the company address a range of sustainability and corporate social responsibility opportunities.

As outlined in its 2001 annual report to shareowners, one of Alcoa's defining strategies is how it translates the company's Values into action in its businesses, communities and society at large. The Public Issues Committee will also provide Board-level oversight of progress on translating the company's Values into action.

"Good public policy makes for good business," said Gueron. "I welcome the opportunity to serve shareholders in this capacity. With the commitment of management and the breadth of experience of the committee members, we can make a difference for the good of society and Alcoa."

The other Board members of Alcoa's new Public Issues Committee are Kathryn Fuller, President of the World Wildlife Fund; Carlos Ghosn, President and CEO of Nissan Motor Company; Henry Schacht, Chairman of Lucent Technologies; Franklin Thomas, Chairman of the September 11 Fund and former President of the Ford Foundation; and Ernesto Zedillo, recently appointed to be Director of the Yale Center for the Study of Globalization and former President of Mexico.

"At Alcoa, we don't just have values; we live our Values everyday. This committee will help us deepen that commitment, particularly to sustainable business practices," said Chairman and CEO Alain Belda. "The creation of the Public Issues Committee raises to the Board of Directors level and formalizes what each and every Alcoan practices everyday. We firmly believe we cannot achieve our vision - to be the best company in the world -- unless we are the best company in each and every community in which we operate."

Alcoa is the world's leading producer of primary aluminum, fabricated aluminum and alumina, and is active in all major aspects of the industry. Alcoa's aluminum products and components are used worldwide in aircraft, automobiles, beverage cans, buildings, chemicals, sports and recreation, and a wide variety of industrial and consumer applications, including such Alcoa consumer brands as Alcoa(R) wheels, Reynolds Wrap(R) aluminum foil, and Baco(R) household wraps. Among its related businesses are precision castings, vinyl siding, closures, and electrical distribution systems for cars and trucks. The company has 129,000 employees in 38 countries.