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June 13, 2003

Alcoa Announces Dividend

PITTSBURGH--(BUSINESS WIRE)--June 13, 2003--The Board of Directors of Alcoa (NYSE:AA) today declared a quarterly common stock dividend of 15 cents per share payable August 25, 2003 to shareholders of record at the close of business on August 8, 2003. Alcoa has paid a quarterly dividend on its common stock for more than 60 years.

The directors also declared a quarterly dividend of 93.75 cents per share on Alcoa's $3.75 cumulative preferred stock payable October 1, 2003 to shareholders of record at the close of business on September 12, 2003.

www.alcoa.com