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September 14, 2000

Alcoa Announces Dividend

PITTSBURGH--September 14, 2000-- The Board of Directors of Alcoa today declared a quarterly common stock dividend of 12.5 cents per common share. The dividend is payable November 25, 2000 to shareholders of record at the close of business on November 3, 2000. The directors also voted a regular dividend of $0.9375 per share on Alcoa's $3.75 cumulative preferred stock, payable January 1, 2001 to shareholders of record on December 15, 2000.

Editorial Contact: Joyce A. Saltzman
1 412 553 4467