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Dividend Statement PITTSBURGH--July 10, 1997--
The Board of Directors of Alcoa today declared a base quarterly dividend
of 25 cents per common share. The dividend is payable August 25, 1997 to
shareholders of record at the close of business on August 8, 1997.
The directors also voted a regular dividend of 93-3/4 cents per share on
Alcoa's $3.75 cumulative preferred stock, payable October 1, 1997 to
shareholders of record on September 12, 1997.