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September 16, 2002

Alcoa Realigns Business to Better Serve Customers in Automotive, Aerospace and Commercial Transportation Markets

PITTSBURGH--(BUSINESS WIRE)--Sept. 16, 2002--Alcoa (NYSE:AA) announced today that it has realigned its existing businesses to provide a closer fit with customer needs in the automotive, aerospace, and commercial transportation market sectors. "Focus on the customer is a cornerstone of the Alcoa Business System," said Alain Belda, Chairman and CEO of Alcoa. "By reorganizing Alcoa to better focus on our global automotive market and our global aerospace and commercial transportation markets, we are better positioned to serve our customers and grow our business."

Bob Hughes, 57, Executive Vice President, will lead a new Alcoa Automotive and Allied Products Group, which will include the businesses that support automotive customers by providing electrical distribution systems, cast and forged automotive wheels, cast and assembled components, and other products.

Bill Christopher, 48, Executive Vice President, will lead a new Aerospace and Commercial Transportation Group, focusing on customers in the aerospace, commercial transportation, and industrial gas turbine markets. He will lead the businesses that support these markets by providing wheels and forged components, fastening systems, as well as the Howmet business.

"Bob Hughes and Bill Christopher, will provide the dynamic leadership that Alcoa needs to continue its transformation to a very customer-focused organization," said Belda.

Pat Hassey, 56, Executive Vice President, has decided to retire early next year after more than 35 years in a wide variety of leadership positions at Alcoa. "Pat Hassey has made an outstanding contribution to Alcoa over his 35-year career," said Belda. "His recent work building a team focused on aerospace and integrating Huck and Howmet paved the way for a new Alcoa business focused exclusively on that market."

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 to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap(R) products, 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.

Biographical Information

ROBERT S. HUGHES II

Executive Vice President - Alcoa

Group President - Alcoa Automotive and Allied Products

Chairman, Chief Executive Officer and President -

Alcoa Fujikura Ltd. (AFL)

Robert S. (Bob) Hughes was appointed group president of Alcoa Automotive and Allied Products in September 2002, taking responsibility for Alcoa's global automotive market in addition to Alcoa's North American extrusion businesses, which he has led since mid 2001. He also continues to head Alcoa Fujikura Ltd. (AFL), a joint venture between Alcoa and Fujikura Ltd. of Japan, which produces electrical/electronic systems and components and specialty fiber optic products for the automotive and telecommunications markets. Bob is also a member of Alcoa's Executive Council, the senior leadership group that provides strategic direction for the company.

Bob has held sales, marketing, manufacturing and business unit management positions with Alcoa during his extensive career, which began in 1967 as a sales trainee in Pittsburgh. He assumed sales positions in Dallas, Detroit, St. Louis and Philadelphia before becoming manager of packaging sales in Lausanne, Switzerland in 1975. Two years later, he participated in the Conference Board's Congressional Assistance Program in Washington, D.C. Following this assignment, he became production superintendent, Cold Mills at Alcoa's Tennessee Operations. In 1981, Bob returned to Pittsburgh as central regional manager, Field Sales and one year later was named manager, Corporate Planning. In 1984, Bob moved to Cleveland as marketing manager, Forging Division, subsequently, was made plant manager, and in 1987 he became general manager, Wheel Products Division. He was named general manager, Alcoa Forgings and Castings Division in January 1991 and president of Alcoa Forged Products in August 1991. He became president of AFL in 1996, elected a vice president of Alcoa in 1997, and appointed executive vice president of Alcoa and group president of Allied Products in 2001.

Bob has a marketing degree from West Virginia University. He was born October 7, 1944, in Wheeling, West Virginia. He and his wife, Jane, have two children.

WILLIAM F. CHRISTOPHER

Executive Vice President - ABS, Customer and Quality

Group President - Alcoa Aerospace and Commercial Transportation

William F. (Bill) Christopher was appointed to the additional assignment of group president for Alcoa's Aerospace and Commercial Transportation Group in September 2002. He will continue leadership responsibility for Alcoa Business System, Customer and Quality, a position he assumed in July 2001. In his expanded role, Bill will focus on Alcoa's global aerospace and commercial transportation markets as well as corporate leadership for ABS and Alcoa's customer and quality initiatives. He is also a member of Alcoa's Executive Council, the senior leadership group that provides strategic direction for the company.

Bill joined Alcoa in 1975 as an internal auditor in Pittsburgh following graduation from Penn State University with an accounting degree. He held a series of financial management positions in Massena (N.Y.), Davenport (Iowa) and Tennessee until he was named sheet mill manager at Davenport in 1988. Three years later he became vice president, Commercial Products Sales and Marketing also based in Davenport. Bill was named president of Alcoa Forged Products, the Cleveland-based business unit that makes forgings and castings for the aerospace, transportation and commercial markets in 1996. He was elected a vice president of Alcoa in 1999 and an executive vice president in 2001.

Bill obtained an M.B.A. degree in 1980 from Clarkson University and also holds a certificate in management accounting. A native of Pennsylvania, Bill was born March 17, 1954, in Ridley Park, Pa. He and his wife, Cathy, and their three children, Bryan, Tony and Megan, reside in Cleveland, Ohio.

Forward Looking Statement

Certain statements relate to future events and expectations and as such constitute forward-looking statements involving known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Alcoa 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 are summarized in Alcoa's 2001 10-K report and other SEC reports.