2008-07-30 01:28:03 -

www.alcoa.com - Alcoa today issued the following statement regarding the Siemens matter:

Since the start of discussions with Mr. Kleinfeld about his taking a position with Alcoa, the company and its board have sought and received extensive information regarding the Siemens matter. Alcoa continues to monitor the situation, and believes no further comment or action is warranted or necessary at this time. The board believes it is well informed of all pertinent information in this matter.

Statement by Mr. Kleinfeld:

"I have great faith in the German judicial system, and that is why I am not concerned about this development."

About Alcoa

Alcoa (NYSE:AA) 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(R) 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

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