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September 13, 2002

Alcoa Announces Dividend

PITTSBURGH--(BUSINESS WIRE)--Sept. 13, 2002--The Board of Directors of Alcoa (NYSE:AA) today declared a quarterly common stock dividend of 15 cents per share payable November 25, 2002 to shareholders of record at the close of business on November 8, 2002. This is Alcoa's 95th consecutive quarterly dividend on its common stock.

The directors also declared a quarterly dividend of 93.75 cents per share on Alcoa's $3.75 cumulative preferred stock payable January 1, 2003 to shareholders of record on December 13, 2002.