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July 23, 2002

Barbara Jeremiah and Joseph Muscari Named Alcoa Executive Vice Presidents

PITTSBURGH--(BUSINESS WIRE)--July 23, 2002--Alcoa announced today that its Board of Directors elected Barbara S. Jeremiah, 50, executive vice president of Corporate Development, and Joseph C. Muscari, 55, executive vice president of Latin America and Asia, effective immediately. Ms. Jeremiah has been vice president of Corporate Development since 1998, responsible for Alcoa's corporate development activities, including acquisition and joint ventures, and corporate divestitures. Mr. Muscari was named to the new position of group president, Asia and Latin America last year, with accountability for Alcoa's operations and growth initiatives in these regions.

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.