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June 1, 2001

Alcoa Reduces Production at Pocos de Caldas, Brazil, Smelter

PITTSBUGH--June 1, 2001-- Alcoa announced today that it is reducing its aluminum production at its Poços de Caldas, Brazil, aluminum smelter by 25%, or 22,500 metric tons per year (mtpy), effective immediately. The reduction is prompted by the Brazilian government's request that consumption of electricity at that plant be cut by 25% starting in June.

Poços de Caldas had been operating near nameplate capacity of 90,000 mtpy since 1979. The net effect of the Poços de Caldas curtailment will not be material to Alcoa's full year 2001 earnings.

Alcoa's worldwide primary aluminum capacity is 4.1 million mtpy. Alcoa currently has approximately 570,000 mtpy of idled capacity.