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June 30, 2003

Alcoa Foundation Helps Fund Chair at Florida A & M University

PITTSBURGH--(BUSINESS WIRE)--June 30, 2003--Alcoa Foundation announced today that it joined a consortium of corporations to create and fund a chair in the School of Business and Industry at Florida A & M University in the name of the retiring dean of the business school, Sybil C. Mobley. Alcoa Foundation will give a total of $100,000 over two years for continuing support of business education.

"Florida A & M's School of Business and Industry is regarded by the corporate community as one of the premier institutions of higher education in preparing graduates with the skills and competencies needed for success in business administration and accounting," says Kathleen W. Buechel, president of Alcoa Foundation. "Through this effort we hope to continue to enhance a proven educational institution's work."

Alcoa and Alcoa Foundation have a longstanding relationship with Florida A & M University through various avenues, including the Campus Partnership Program, Internships, and Gift Matching programs.

Established in 1952, Alcoa Foundation is a global resource that actively invests in improving the quality of life in more than 29 countries around the world where Alcoa operates. The Foundation's grants address global and local need in Areas of Excellence that include: Conservation and Sustainability, Global Education and Workplace Skills, Business and Community Partnerships and Safe and Healthy Children and Families. For more information about Alcoa Foundation, visit www.alcoa.com under Community.

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 127,000 employees in 40 countries. For more information go to www.alcoa.com