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January 3, 2003

Alcoa Publishes 2002 Environment, Health and Safety Report; Safety Record and Dramatic Gains in Global Emissions Reductions Outlined

PITTSBURGH--(BUSINESS WIRE)--Jan. 3, 2003--Alcoa's (NYSE:AA) 2002 Corporate Environment, Health and Safety (EHS) report has been published.

This is the tenth consecutive year that Alcoa has published such a report that this year appears exclusively online to take advantage of the speed, flexibility, and reach of the Internet. The 2002 report was published at 12:01 a.m. on January 1, 2003, underscoring the timeliness and transparency of the company's environmental, health and safety initiatives. The online report also paves the way for broader integrated reporting of Alcoa's environmental, social, and economic performance in keeping with Global Reporting Initiative (GRI) guidelines. Moving towards that GRI report, Alcoa will publish a combined 2002 environmental and community report as a companion publication to our traditional financial Annual Report in 2003.

Highlights of the 2002 EHS report reveal significant progress towards Alcoa's twenty-year strategic environmental, health, and safety objectives including a new low in Lost Work Day injuries and dramatic gains in global emissions reduction. These include attainment of 23.5 percent of a targeted 25 percent reduction by 2010 of greenhouse gas emissions measured against a 1990 baseline and a 31.5 percent reduction in land filled waste against a 50 per cent reduction target by 2007.

In releasing the 2002 report Alcoa Vice President EHS and Audit, Bill O'Rourke reiterated Alcoa's commitment to timely reporting.

"We've been publishing EHS progress reports through the year, and now finalized that with a summary and charts showing our performance in 2002. This is how we believe we can help people develop an accurate picture of our EHS performance as it's happening.

"We're pleased with the results of 2002 and, looking forward to 2003 and beyond, they give us a solid base for moving on to our goal of zero injuries and zero environmental incidents, while all the time striving for first quintile financial performance," he said.

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. For more information go to www.alcoa.com

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 include changes in environmental, health and safety regulations, legislation and other risk factors summarized in Alcoa's 2001 10-K report and other SEC reports.