Alcoa Announces Dividend

The Board of Directors of Alcoa declared (a) a quarterly common stock
dividend of 3 cents per share payable May 25, 2011 to shareholders of
record at the close of business on May 16, 2011 and (b) a quarterly
dividend of 93.75 cents per share on Alcoa′s $3.75 cumulative preferred
stock payable July 1, 2011 to shareholders of record at the close of
business on June 10, 2011.

About Alcoa

Alcoa (NYSE:AA) is the world′s leading producer of primary and
fabricated aluminum, as well as the world′s largest miner of bauxite and
refiner of 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 nine 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.

Alcoa

Investor Contact

Roy C. Harvey, 212-836-2674

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Media
Contact

Michael E. Belwood, 812-604-0530