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August 7, 2003

Alcoa Volunteer Program Doubles in Size in Second Year; Employees Engaged in Over 100 Communities in 20+ Countries, Help Earn Over $1 Million for Local Organizations

PITTSBURGH--(BUSINESS WIRE)--Aug. 7, 2003--In just two years of operation, Alcoa's employee engagement efforts advanced significantly in 2002 to over 5,000 Alcoans volunteering their time in more than 100 communities around the world in two company-tracked employee engagement programs. Combined, employee volunteer efforts for the two programs helped earn organizations throughout the world over $1 million in grants from Alcoa. The employee engagement total is more than double that of the 2,300 employees who volunteered in 2001 and is expected to continue to grow as the initiatives take root in other Alcoa communities.

Tracking Volunteer Activity

While Alcoans have been volunteering in their communities for many years, Alcoa's programs that began in the past two years--ACTION (Alcoans Coming Together In Our Neighborhoods) and Bravo!--formally recognize and encourage these employees with grants to the organizations they serve. Their volunteer activities are measured by Alcoa through specific grant applications from the employees to the ACTION and Bravo! Programs. The results for grant requests received for the programs through December 31, 2003, are reported in the company's Sustainability Report, available on www.alcoa.com, to present Alcoa's triple-bottom line performance in financial, environmental and social dimensions and company payout.

Global Teams of Volunteers

ACTION recognizes a team of 10 or more Alcoans with a $3,000 grant to the organization they serve. In 2002, 234 employee-directed and designed ACTION teams provided a day of service in 114 communities in 19 countries. More than 4,106 Alcoans participated along with others in these efforts. Alcoa matched that investment with $702,000 in grants to those organizations. Their community investments responded to local needs and Alcoa Foundation's Areas of Excellence with projects ranging from teaching fire safety to students and teachers at the Escola Estadual Major Joao Periera in Itajuba, Brazil, to planting 5,000 trees in the River Lostock Corridor in Swansea, United Kingdom to extend a diminishing wooded area and attract wildlife back to the region.

Individual Volunteers Log Nearly 100,000 Hours

Alcoa recognizes individuals who volunteer through its Bravo! program, which provides a $250 grant to organizations where they serve 50 hours or more each year. In 2002, the first year for Bravo!, nearly 2000 Alcoans volunteered in 129 communities in 16 countries around the world, mentoring at-risk youth, delivering warm meals to shut-ins, training guide dogs for people with blindness, cleaning up watersheds and much more. Combined, they logged nearly 100,000 hours and Alcoa donated $492,500 to NGOs around the world in their names.

"These Alcoans lead by example and provide a demonstration of Alcoa's values in action," said Alain J. Belda, chairman and chief executive officer of Alcoa. "By recognizing their good works, we hope to inspire others to get involved, and to draw community attention to the critical issues they represent."

As part of the 50th anniversary of Alcoa Foundation begun in November 2002, Alcoa recognized its volunteers with special events around the world and additional $1,000 grants to the nonprofits served by 25 ACTION and 25 Bravo! participants. The company is planning to recognize and encourage volunteers again this year through a special Week of Service in November.

"These programs tap a longstanding commitment by Alcoans in their communities," said Kathleen W. Buechel, president of Alcoa Foundation. "Their good works extend our grantmaking investments in Alcoa communities with time and expertise."

About Alcoa

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) foils and plastic wraps, 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. More information can be found at www.alcoa.com.

About Alcoa Foundation

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. Alcoa Foundation manages the ACTION and Bravo! Programs. For more information about Alcoa Foundation, visit www.alcoa.com, under Community.