Alcoa and Alcoa Foundation Announce Commitments at 2011 Clinton Global Initiative Annual Meeting

Alcoa and Alcoa Foundation announced two commitments to prepare U.S.
workers for manufacturing jobs and to increase the energy efficiency of
its operations today at the 2011 Clinton Global Initiative Annual
Meeting, a convening of global leaders founded by President Bill Clinton.

The first commitment is a $200,000 Alcoa Foundation investment to fund
eight training programs in California, Ohio, Pennsylvania, Tennessee and
Texas that will prepare almost 900 adults for current and future
manufacturing jobs. Each training program will address its community′s
local job demands, from a machinist training program in Southern
California, to an industrial maintenance technology program in
Tennessee. Alcoa will also provide the programs with insight into
industry needs, program curriculum and provide work experience for
students.

Secondly, Alcoa has joined President Obama′s 'Better Buildings, Better
Plants Challenge? to improve energy efficiency in commercial and
industrial buildings across the country. Alcoa is implementing an
enterprise-wide energy reduction initiative to decrease energy use in
its Global Primary Products division by 10 percent and its other
businesses by 20 percent by 2020. This initiative includes a recently
announced $21 million investment in new technology and facilities for
the Alcoa Wheel and Transportation Products business in Barberton, Ohio.

'Education and innovation are critical to America′s growth,? said Klaus
Kleinfeld, Chairman and CEO, Alcoa. 'We′re pleased to equip Americans
with the technical skills to help them get back to work and invest in
innovation that will make our manufacturing processes and facilities
greener.?

Preparing workers for manufacturing jobs

Approximately 2.7 million manufacturing workers are over 55 years old
and will be retiring in the next 10 years. As a result, the demand for
skilled labor in manufacturing will continue to increase, but there′s a
risk that many of these jobs could remain vacant because workers lack
the necessary skills to qualify for these positions.

To proactively address this skills gap, Alcoa Foundation is working with
community colleges and academic institutions to develop or expand
trade-based training programs. It is focusing on counties within five
states that have high unemployment and a demand for skilled
manufacturing labor. This two-prong approach addresses the needs of
local workers and employers to ensure that students are trained for
available positions.

Better Buildings, Better Plants Challenge

Alcoa has been committed to energy reduction for many years. Joining the
'Better Building, Better Plants Challenge? is an opportunity to enhance
this priority. Alcoa′s enterprise-wide energy reduction initiative
includes a $21 million investment to expand the Barberton, Ohio
facility. The plan involves constructing a new 35,000 square foot
building, designed to be LEED certified, that will use an advanced
recycling and casting process to produce new wheels from re-melted and
scrap aluminum. This building is the first of its kind in North America
and will reduce energy consumption and greenhouse gas emissions.

In addition to improving the energy efficiency of the manufacturing
process and providing more eco-friendly products such as lighter-weight
wheels, the Barberton, Ohio investment will also create 30 full-time
jobs and help protect more than 350 existing positions.

About Alcoa Foundation

Alcoa Foundation is one of the largest corporate foundations in the
U.S., with assets of approximately US$436 million. Founded more than 50
years ago, Alcoa Foundation has invested more than US$530 million since
1952. In 2010, Alcoa Foundation contributed nearly US$20 million to
nonprofit organizations throughout the world, focusing on promoting
environmental stewardship, enabling economic and social sustainability,
and preparing tomorrow′s leaders through education and learning. The
work of Alcoa Foundation is further enhanced by Alcoa′s thousands of
employee volunteers, who in 2010 gave more than 720,000 service
hours. ?Through the company′s signature Month of Service (October)
program, Alcoa employees share their energy, passion and purpose to make
a difference in our communities. In 2010, a record 49 percent of Alcoans
took part in nearly 1,000 Month of Service events across 24 countries,
reaching 59,000 children, serving 17,000 meals, planting 16,000 trees
and supporting 3,000 nonprofit organizations. For more information about
Alcoa Foundation, please access www.alcoa.com/foundation.

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 10 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 the Clinton Global Initiative

Established in 2005 by President Bill Clinton, the Clinton Global
Initiative (CGI) convenes global leaders to devise and implement
innovative solutions to some of the world′s most pressing challenges.
Since 2005, CGI Annual Meetings have brought together nearly 150 current
and former heads of state, 18 Nobel Prize laureates, hundreds of leading
CEOs, heads of foundations, major philanthropists, directors of the most
effective nongovernmental organizations, and prominent members of the
media. These CGI members have made more than 2,000 commitments, which
have already improved the lives of 300 million people in more than 180
countries. When fully funded and implemented, these commitments will be
valued in excess of $63 billion. The 2011 Annual Meeting will take place
Sept. 20-22 in New York City.

This year, CGI also convened CGI America, a meeting focused on
developing ideas for driving economic growth in the United States. The
CGI community also includes CGI U, which hosts an annual meeting for
undergraduate and graduate students, and CGI Lead, which engages a
select group of young CGI members for leadership development and
collective commitment-making. For more information, visit www.clintonglobalinitiative.org.

Alcoa Foundation

Nacema Blake, 212-836-2825

Nacema.blake@alcoa.com

or

Alcoa
Inc.

Mike Belwood, 812-604-0530

Mike.belwood@alcoa.com