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June 12, 2002

Alcoa Highlights The Future of Aerospace Metallics

PITTSBURGH--(BUSINESS WIRE)--June 12, 2002--In the opening session of Aeromat 2002, a major advanced aerospace materials and processes conference in Orlando, Florida, L.P. (Pat) Hassey, Alcoa executive vice president and chair of Alcoa's aerospace market sector team, which includes all Alcoa businesses serving the aerospace industry, spoke on "The Future of Alcoa Aerospace Metallics." Highlights of Hassey's remarks include:

  • Alcoa's historic role as a leading supplier of aerospace metallics has been significantly expanded via the addition of Howmet Castings and Huck Fasteners. (Alcoa acquired the two companies in 2000.) Today, Alcoa is truly "all over" the aircraft, and more capable than ever before of being a complete source for integrated solutions.
  • Alcoa is matching the performance properties of composites in certain classes of structure at significantly lower costs and at lower risks. The major aerospace companies may now compare Alcoa's highest-performance metallics against today's best-performing composites.
  • Alcoa has been successful in winning key material development applications proposed for the Airbus 380.
  • From Kitty Hawk and the Sea of Tranquility, to the Space Shuttle and next-generation aircraft, Alcoa has been intimately involved in major aerospace initiatives since manned flight began. In fact, Alcoa developed 95 percent of the aerospace aluminum alloys flying today.
  • Alcoa has begun work with Boeing to help them evaluate the best materials options available for their next-generation aircraft. This work may include Integrated Product Teams and Virtual Product Development Teams.
  • Alcoa is applying its structural design expertise to the development of finished components -- not to replicate customers' skills set -- but to apply Alcoa skills to new products, such as the new Fortress(TM) Cockpit Door. The new Fortress Cockpit Door initiative went from concept to reality in just seven months.
  • Performance advancements in the development of new metallic alloys that once took Alcoa four to six decades to accomplish, will now only take two to three years. Alcoa's customer understanding, coupled with its core technologies, significantly shortens development, enhance performance, reduce systems costs and lower risk of Advanced Alcoa Aerospace Metallics Solutions.

At next month's Farnborough Air Show in England - the major international aerospace event of 2002 - Alcoa will continue to feature its leading position in aerospace solutions.

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 serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses as a single solution to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap(R) aluminum foil, Alcoa(R) wheels, and Baco(R) household wraps. Among its other businesses are vinyl siding, closures, precision castings, and electrical distribution systems for cars and trucks. The company has 129,000 employees in 38 countries.

Alcoa (NYSE:AA)

Forward Looking Statement

Certain statements in this release relate to future events and expectations and as such constitute forward-looking statements involving known and unknown risks and uncertainties that may cause actual results, performance or achievements related to this transaction to be different from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include Alcoa's inability to achieve the level of growth anticipated by management, including possible increases in the cost of doing business resulting from economic or competitive factors in Japan, and other risk factors summarized in Alcoa's Form 10-K for the year ended December 31, 2001.