Ma′aden-Alcoa JV Chooses Wagstaff to Supply Critical Casting Technology to Serve New Smelter and Region′s First Can Sheet Rolling Mill

The Ma′aden-Alcoa joint venture has selected Wagstaff, Inc. to supply
the joint venture′s vertical direct chill casting complex with t-ingot,
rolling ingot, and extrusion billet casting equipment. The contract
includes capital equipment and technology to produce aluminum rolling
ingot and extrusion billet at the casting complex, currently under
construction and scheduled to start production in 2013 in Ras Az Zawr,
Saudi Arabia.

The greenfield smelter and rolling mill comprise the first of two phases
in this super-project, which will leverage Saudi Arabia′s bauxite and
energy resources with Alcoa know-how, management expertise and support
to create the world′s largest and lowest cost fully integrated aluminum
manufacturing complex. The rolling mill will be the region′s first and
one of the most technologically advanced in the world and will primarily
produce can stock, end stock and tab stock for the regional market. It
will have initial hot-mill capacity of between 250,000 and 460,000
metric tons per year.

The new contract for the casting complex supply includes Wagstaff
leading edge ingot and billet casting systems, as well as integrated
automated controls, which have been shown to deliver improved recovery
rates, and higher levels of workplace convenience and safety. The
casting facility will also feature Alcoa′s advanced proprietary ingot
casting technology which yields highly improved surface finish to
rolling ingots with consequential gains in rolling efficiency and
product quality.

´As a longstanding, dedicated supplier to global Alcoa casting
facilities and with many successful greenfield installations in the
Middle East and around the world, Wagstaff is uniquely positioned to
provide precision, state-of-the-art direct chill casting equipment to
the Ma′aden Alcoa joint venture, and to remain a constant resource from
current equipment design activities through delivery, commissioning,
operator training, post-startup technical support, and beyond,? said Ray
Kilmer, Vice President, Alcoa Global Rolled Products.

About Ma´aden - www.maaden.com.sa

Established by Royal Decree No. M/17 dated 14/11/1417 Hijri (March 1997)
to facilitate the development of Saudi Arabian′s non-petroleum
resources, the Company′s Initial Public Offering took place in July
2008. The Government of Saudi Arabia through the Public Investment Fund
retained 50% of ownership, whereas institutional and individual
investors acquired the remaining 50%.

Ma´aden has progressed towards realizing its vision to be a world class
international mining company and its mission to become profitable for
its shareholders, while maintaining the utmost concern for human
resources, health and safety, environmental and social issues.

The Ma′aden Alcoa joint venture will become the world´s preeminent and
lowest-cost supplier of primary aluminum, alumina and aluminum products,
with access to the growing markets of the Middle East and beyond. The
complex will utilize critical infrastructure, including low-cost and
clean power generation, as well as port and rail facilities, developed
by the Kingdom´s government. Bauxite feedstock for the planned alumina
refinery will be transported by rail from the new mine at Al Ba´itha,
near Quiba, in the north. The smelter and rolling mill will begin
operations in 2013 with the mine and refinery coming on stream in 2014.

About Alcoa - www.alcoa.com

Alcoa is the world′s leading producer of primary aluminum, fabricated
aluminum and alumina. In addition to inventing the modern-day aluminum
industry, Alcoa innovation has been behind major milestones in the
aerospace, automotive, packaging, building and construction, commercial
transportation, consumer electronics and industrial markets over the
past 120 years. Among the solutions Alcoa markets are flat-rolled
products, hard alloy extrusions, and forgings, as well as Alcoa ® wheels,
fastening systems, precision and investment castings, and building
systems in addition to its expertise in other light metals such as
titanium and nickel-based super alloys. Sustainability is an integral
part of Alcoa′s operating practices and the product design and
engineering it provides to customers. Alcoa has been a member of the Dow
Jones Sustainability Index for eight consecutive years and approximately
75 percent of all of the aluminum ever produced since 1888 is still in
active use today. Alcoa employs approximately 59,000 people in 31
countries across the world. More information can be found at www.alcoa.com.

About Wagstaff ? www.wagstaff.com

Wagstaff, Inc. is a 64-year-old technology and manufacturing company
that provides customized, advanced aluminum direct-chill (DC)
solidification solutions to rolling ingot and extrusion billet producers
worldwide. Wagstaff offers casting machines, mold systems, process
automation, rolling ingot tooling, extrusion billet tooling, auxiliary
equipment and technical service and support to all sizes of DC aluminum
casting operations in 55 countries around the globe.

With manufacturing in Spokane, Washington, and Hebron, Kentucky, USA,
and service and commercial resources placed in strategic locations close
to global aluminum production centers, Wagstaff is positioned to
deliver, commission, and service casting operations worldwide.

Alcoa

Investor Contact

Matthew E. Garth, 212-836-2674

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Michael E. Belwood, 812-604-0530