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April 23, 2001

Alcoa Completes Sale of Thiokol Propulsion to ATK

PITTSBURGH and MINNEAPOLIS--April 23, 2001-- Alcoa Inc. and ATK (Alliant Techsystems Inc.) jointly announced today that the sale of Alcoa's Thiokol Propulsion business to ATK has been completed. Agreement on the sale was announced in January. ATK purchased Thiokol Propulsion for $685 million in cash.

Alcoa is the world's leading producer of primary aluminum, fabricating aluminum and alumina and participates in all segments of the industry: mining, refining, smelting, fabricating and recycling. The company has operations in 37 countries.

ATK is a $1.6 billion aerospace and defense company with leading positions in munitions, precision capabilities, propulsion, and composite structures. The company, which is headquartered in Hopkins, Minn., has two business segments: Aerospace and Defense.

Alcoa Inc. (NYSE: AA)
Alliant Techsystems Inc. (NYSE: ATK)

Editorial Contacts:

Joyce A. Saltzman

Rod Bitz

Investor Relations Contacts:

Charles D. McLane

Steve Wold