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Abstract:
Partnerships With Leading Universities Focus on Innovations in Mining and
Smelting Technologies

Alcoa Establishes Innovation Center in Russia

New York City, NY | Posted on February 21st, 2007

Alcoa (NYSE:AA) announced today that it has
established an Innovation Center of Excellence with leading universities in
Russia to work on research and development projects focused on innovative
mining, refining and smelting technologies.

"By establishing relationships with leading universities, national labs
and industry partner research and development organizations in growing
countries, Alcoa is multiplying its knowledge pool and is continuing to
position the company on the cutting-edge of innovations within our key
markets," said Mohammad Zaidi, Executive Vice President, Market Strategy,
Technology and Quality. "By collaborating with the best and brightest around
the world that have expertise in the sciences at the foundation of our key
markets, we are creating a powerful leveraging engine."

Alcoa has signed agreements with Moscow State University in Moscow, St.
Petersburg State Mining Institute in St. Petersburg, and Ural Polytechnic
University in Ekaterinburg to work on research and development projects
focused on transformational technologies in mining and refining. This
complements the projects already started by Alcoa in Russia in the field of
research. As of 2005, Alcoa Foundation has been supporting a major program in
Russia to support education in three key technical universities in Moscow,
Samara and Rostov-on-Don, the three key regions where the company has its
offices and production facilities.

"Today's business climate demands collaboration between business and
universities, which Alcoa has been doing for years," said Dave Olney, Vice
President of Technology and Alcoa Business System (ABS) for Alcoa World
Alumina. "The scientific community in Russia has a distinguished reputation,
and we are excited by the initial energy between our researchers and these
universities."

Alcoa's Innovation Center of Excellence in St. Petersburg, Russia, is
part of a broader open innovation business model that focuses leveraging R&D
resources in rapidly developing countries. Last month, Alcoa announced that it
signed a memorandum of understanding (MOU) with India's Council of Scientific
& Industrial Research (CSIR) to partner in collaborative research projects
that address critical global issues such as energy efficiency, alternative and
renewable energy sources, environmental technologies as well as multi-material
engineered solutions. In China, Alcoa is working with Northeastern University
(NeU) in Shenyang and Central South University (CSU) in Changsha, both of
which are under the direct administration of the Ministry of Education of
China. The collaboration between Alcoa and NeU and CSU focuses on innovative
process technologies, energy efficiency, and nanotechnology.

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About Alcoa Technology
Alcoa's global technology organization is comprised of thousands of
scientists, engineers and researchers around the world dedicated to
discovering and developing the next-generation of Alcoa products, processes
and services. Alcoa's scientific community is connected globally to research
centers and universities in Russia, China, India, Europe and the United
States. Founded on the innovative spirit of Charles Martin Hall and his patent
that sparked the entire aluminum industry, Alcoa has more than 2,600 active
patents today. The company also owns the world's largest light metals research
and development center, one of only two light metals R&D centers in the world.
Alcoa annually invests approximately 1% of its revenues in R&D, which is
helping to build a foundation for Alcoa's future.

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(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 123,000 employees in 44 countries
and has been named one of the top most sustainable corporations in the world
at the World Economic Forum in Davos, Switzerland.

For more information, please click here

Contacts:
Alcoa Investor Contact
Tony Thene
212-836-2674

Media Contact USA
Kevin G. Lowery
412-553-1424
Mobile 724-422-7844

Russia: Daria Ulantseva
(7 495) 777-0404
Mobile (7 916) 642 81 04

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