Alcoa Announces Dividend

    PITTSBURGH--April 11, 2003--The Board of Directors of Alcoa today declared a quarterly common stock dividend of 15 cents per share payable May 25, 2003 to shareholders of record at the close of business on May 2, 2003. Alcoa has paid a quarterly dividend on its common stock for more than 60 years.
    The directors also declared a quarterly dividend of 93.75 cents per share on Alcoa's $3.75 cumulative preferred stock payable July 1, 2003 to shareholders of record at the close of business on June 13, 2003.