Alcoa Announced Dividend

PITTSBURGH--July 14, 2006--The Board of Directors of Alcoa declared (a) a quarterly common stock dividend of 15 cents per share payable August 25, 2006 to shareholders of record at the close of business on August 4, 2006 and (b) a quarterly dividend of 93.75 cents per share on Alcoa's $3.75 cumulative preferred stock payable October 1, 2006 to shareholders of record at the close of business on September 8, 2006. Alcoa has paid a quarterly dividend on its common stock for more than 60 years.

Alcoa is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active 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, Alcoa also markets consumer brands including Reynolds Wrap(R) foils and plastic wraps, Alcoa(R) wheels, and Baco(R) household wraps. Among its other businesses are closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 129,000 employees in 43 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