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April 11, 2001

Alcoa Completes Sale of Stade Alumina Refinery to Dadco Alumina and Chemicals Ltd.

PITTSBURGH--April 11, 2001-- Alcoa Inc. announced today that it has completed the sale of 50% of the Aluminium Oxide Stade GmbH alumina refinery located in Stade, Germany to Dadco Alumina and Chemicals Ltd., a private investment and trading company. Terms were not disclosed. Alcoa acquired the 50% share of Stade as part of its acquisition of Reynolds Metals Company in May 2000. VAW AG of Germany owns the remaining interest. The Stade refinery has a production capacity of 800,000 metric tons per year and the sale is required under regulatory approval that cleared Alcoa's acquisition of Reynolds.

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Joyce A. Saltzman
Alcoa Inc.
412-553-4467

Investor Relations:
Charles D. McLane
Alcoa Inc.
212-836-2674