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September 24, 2008

Alcoa Receives Opening Minds Corporate Leadership Award for its Commitment to Social Responsibility and Conservation and Sustainability

NEW YORK--Alcoa (NYSE:AA) announced today that it was recognized by the Institute of International Education (IIE) for its outstanding commitment to education and corporate social responsibility and for Alcoa’s pioneering leadership in addressing issues of environmental conservation and sustainability. Alcoa President and Chief Executive Officer Klaus Kleinfeld accepted the Opening Minds Corporate Leadership Award on behalf of Alcoa during the IIE’s Gala 2008 held in New York yesterday.

“Sustainability is an integral part of our business model at Alcoa. It encompasses our products, processes, people and our approach to our communities. We are honored to accept this award from the IIE, an organization whose vision we share. Our world benefits every day from the understanding that is created by educational exchanges and research that is the legacy of IIE’s work,” said Kleinfeld.

The award coincides with the fifth anniversary of Alcoa FoundationConservation and Sustainability Fellowship Program, a signature Alcoa Foundation initiative that is implemented in partnership with IIE. The program brings together a global network of future leaders and premier institutions to create and leverage sustainability research and share innovation and interdisciplinary work in the conservation and sustainability field.

The Opening Minds Corporate Leadership Award was launched by IIE in 2003 to recognize corporations whose business activities promote international understanding and help to improve the lives of people in communities in which they work. Other recipients include Jeff Immelt on behalf of GE, Henry M. Paulson, Jr. on behalf of Goldman Sachs; and Jim Press representing Toyota Motor Sales, USA.

About Alcoa

Alcoa is the world leader in the production and management of primary aluminum, fabricated aluminum and alumina combined, through its active and growing participation in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components including flat-rolled products, hard alloy extrusions, and forgings, Alcoa also markets Alcoa® wheels, fastening systems, precision and investment castings, and building systems. The Company has 97,000 employees in 34 countries and has been named one of the top most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com