July 25, 2008

Alcoa board elects Mr Kleinfeld as president and CEO

Alcoa's Board of Directors has elected Mr Klaus Kleinfeld president & CEO of the Company. He will succeed Mr Alain Belda as CEO. The change is effective immediately.

Mr Belda said that "In the short amount of time Mr Klaus Kleinfeld has been an Alcoan, he has made a significant difference for the company. Our election of him to the position of CEO reflects our confidence in him as a truly global leader, capable of continuing to capture the growth opportunities ahead. Mr Klaus has extraordinary energy, a keen understanding of global issues, is committed to continuing the strong operating performance of Alcoa and embraces our Values. We are fortunate to have his leadership.”

Mr. Kleinfeld was named president & COO of Alcoa in August 2007. He has served as a director of Alcoa since 2003. He earned a Master’s degree in Business Administration/Economics from the University of Goettingen in 1982.