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November 30, 2001

Alcoa Acquires REDD Team Mfg., Inc.

Chicago, IL--November 30, 2001-- Alcoa announced today that it has acquired REDD Team Mfg., Inc., a privately held company based in Florida. REDD Team Mfg. will become part of Alcoa Engineered Products (AEP). AEP is the Alcoa business that produces aluminum extrusions and fabricated aluminum products. Terms of the deal were not disclosed.

REDD Team Mfg. is a fast growing, highly specialized manufacturer of durable extruded aluminum products for institutional, commercial, residential, military and municipal markets. It manufactures ramps and stair systems; gangways and floating docks; and pedestrian bridges. REDD team offers a complete line of accessibility products that conform to the Americans with Disabilities Act guidelines.

"The acquisition of REDD Team Mfg. adds specialized manufacturing capabilities and access to growing markets for Alcoa AEP. It is an excellent fit with our overall strategy of offering customers greater value by expanding the application of aluminum products" said Barry Owens, president of Alcoa Distribution & Industrial Products. "This acquisition brings together two companies whose products and markets are perfectly complementary. By adding the new manufacturing capabilities and new markets of REDD Team Mfg., we are strengthening our reputation as a leader in solution-based products."

Ken Feeken, President of REDD Team Mfg., added, "Both our customers and employees will immediately benefit from the global resources and marketing network of Alcoa. We look forward to working with Alcoa to serve new markets and to provide expanded opportunities for our employees."

Alcoa Engineered Products includes 27 manufacturing locations and 25 service centers. The manufacturing network will be further extended by the addition of REDD Team Mfg.’s 100 employees located in Keystone Heights, Florida. The combined business will employ more than 8,600.

Alcoa is the world’s leading producer of primary aluminum, fabricated aluminum, and alumina. It is active in all segments of the industry: technology, mining, refining, smelting, fabricating and recycling.

For additional information, please contact:

Thomas P. Hennessy
Vice President of Marketing and Business Development
1907 Industrial Park Drive
Plant City Florida 33567
(813) 707-5410