Alcoa, Inc.
NYSE : AA

Alcoa, Inc.

February 25, 2005 08:54 ET

Alcoa and Alcoa Foundation Report Combined Investment of $28.8 Million in Alcoa Communities Worldwide


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ALCOA

NYSE SYMBOL: AA

FEBRUARY 25, 2005 - 08:54 ET

Alcoa and Alcoa Foundation Report Combined Investment
of $28.8 Million in Alcoa Communities Worldwide

PITTSBURGH--(CCNMatthews - Feb 25, 2005) -

Alcoa (NYSE:AA) and Alcoa Foundation today released year-end highlights
from their combined community giving programs that include a $28.8
million investment in Alcoa communities worldwide - a $2 million
increase from the previous year.

Additional highlights include:

-- a global volunteer event involving thousands of Alcoa volunteers in
170 communities in 27 countries worldwide;

-- a 39% increase in employee engagement grants; and

-- an expansion in the number of countries where grants were made.

"I am proud of our combined investments in the communities where Alcoans
live and work," said Alain Belda, Alcoa chairman and CEO. "Alcoa and
Alcoa Foundation have demonstrated their commitment to investing in
Alcoa communities across the world. As we expand our global breadth,
communities in Trinidad & Tobago, Iceland and Russia can be assured that
we will partner with them just as we've taken an active interest in all
areas that Alcoans call home."

Grantmaking

Grantmaking for Alcoa Foundation totaled $17 million, up approximately
$2 million from 2003. The Foundation's grantmaking efforts expanded to
33 countries around the world in 2004 as part of an overall strategy to
globalize giving. In 2004, international giving represented 39% of the
Foundation's portfolio compared to 18% in 2000. Over just five years,
the percentage of the Foundation's portfolio that represents
international giving more than doubled. This reflects Alcoa's expanding
global presence and the Foundation's aspiration to invest everywhere
Alcoa operates. Together, Alcoa and the Foundation invested a combined
$28.8 million in cash and non-cash contributions in Alcoa communities
last year.

Disaster Relief Grants

In 2004, the Foundation assisted Alcoa communities in their time of need
with grants to support natural disaster relief efforts following
Hurricanes Ivan and Charley that originated in the Caribbean, the
earthquakes in Japan, and flooding in France, Mexico and the United
States. The Foundation donated more than $300,000 in grants to Red Cross
chapters across the world in support of these efforts.

'More than Money' Community Investments

Taking Action - Alcoa's Worldwide Week of Community Service focused on
global education and workplace skills in 2004. This second annual global
volunteer event involved thousands of Alcoa employees in 170 communities
in 27 countries last October. Just a few of the projects involving Alcoa
employees included:

-- providing special education in Peru;

-- presenting environmental and safety lessons to elementary school
children in Brazil;

-- rebuilding a farmhouse in Italy for the Boy Scouts to use for
educational programs;

-- and building a climbing wall to teach the importance of teamwork to
students in Canada.

Employee engagement activities continued to increase in 2004 as Alcoa
employees demonstrated their longstanding commitment to volunteer in
their communities. There was a 6.5% increase in ACTION (Alcoans Coming
Together In Our Neighborhoods) projects in 2004 and a 122% increase in
Bravo! grants in 2004. Combined, ACTION and Bravo! grants increased by
39% to more than $2 million in 2004. Bravo! and ACTION are Alcoa
employee engagement programs managed by the Foundation. While ACTION
recognizes group efforts by employees, Bravo! recognizes the volunteer
efforts of individual Alcoa employees. In 2004, Alcoa employees
volunteered nearly 300,000 hours in the Bravo! program and provided more
than 20,000 hours of community service in the ACTION program.

About Alcoa Foundation

Established in 1952, Alcoa Foundation is a global resource that actively
invests in improving the quality of life in the countries around the
world where Alcoa operates. The Foundation's grants address global and
local needs in Areas of Excellence that include: Conservation and
Sustainability, Global Education and Workplace Skills, Business and
Community Partnerships and Safe and Healthy Children and Families. Alcoa
Foundation manages Alcoa's ACTION and Bravo! programs which recognize
the volunteer efforts of employees with grants to the organizations they
serve. For more information about Alcoa Foundation, visit www.alcoa.com,
under Community.

About Alcoa

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® foils and plastic wraps, Alcoa® wheels, and Baco®
household wraps. The company has 131,000 employees in 43 countries and
has been a member of the Dow Jones Industrial Average for 45 years and
the Dow Jones Sustainability Indexes since 2001. More information can be
found at www.alcoa.com

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Alcoa
    Investor Contact
    William F. Oplinger, 212-836-2674
    or
    Media Contact
    Kevin G. Lowery, 412-553-1424
    Mobile: 724-422-7844