NEW YORK–Alcoa (NYSE:AA) announced today that it has achieved the top ranking in
the Basic Resource category of the 2008 Covalence Ethical Ranking, a
methodology that gauges the reputation of international companies. Alcoa
was also chosen as one of the top ten ethical companies across all
industries and companies. It has been ranked first in the metals and
mining industry and in the top ten among all companies since the ranking
began in 2005.

Covalence is a Geneva-based NGO that closely monitors 18 sectors
comprising 541 companies that are included in the Dow Jones Sector
Titans stock index. Its methodology has become the barometer of how
multinationals are perceived in the ethical field. Data is classified
according to 45 criteria such as labor standards, waste management,
product social utility or human rights policy. This year, Covalence
increased the number of sectors and companies it monitors to 18 sectors
from 10 and 541 companies from 300 companies previously.

“Our values
guide our behavior at every level across Alcoa worldwide. We are proud
of the continued recognition of Alcoa as a company respected for our
strong character and principles,” said Klaus Kleinfeld, Alcoa President
and CEO.

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 been named one of the
top most sustainable corporations in the world at the World Economic
Forum in Davos, Switzerland and has been a member of the Dow Jones
Sustainability Index for seven consecutive years. More information can
be found at www.alcoa.com