NEW YORK–Alcoa (NYSE:AA) President and Chief Executive Officer, Klaus Kleinfeld,
was last night honored for his personal commitment to national service,
receiving the 2010 Ripples of Hope Award from City Year New York.

The Award recognizes Kleinfeld for his passion and dedication to
community service and his commitment to building a positive future for
all young people.

Accepting the award at a gala New York ceremony in front of 500
corporate, community, and philanthropic leaders, including Mayor Michael
Bloomberg, Kleinfeld paid homage to the Alcoa volunteers who each day
give time and energy to make the world a better place.

“This award from City Year belongs to all of the Alcoa employees who
volunteer alongside City Year Corps members at PS 48 and at The Point
Community Center in the South Bronx,” said Mr Kleinfeld.

“The private sector has a responsibility to contribute to the
communities where they operate; this has been an important Alcoa value
for decades. Alcoa’s relationship with City Year New York allows us to
live up to our values by partnering our employees with the talented and
dedicated Corps Members to achieve lasting and positive change for New
York City’s students.”

City Year unites young people for a year of full-time service
across the United States. They serve as tutors and mentors, running
after-school programs, and leading youth leadership programs.

Since 2004, Alcoa Foundation funding of over $750,000 has made it
possible for City Year Corp Members to make a difference in the lives of
hundreds of children in the South Bronx, the poorest congressional
district in the country.

The project has provided over 800 children with one-on-one literacy
tutoring and provided a safe and welcoming after-school learning space
for over 200 students each day.

Alcoa New York employees have been actively involved in the partnership
since the beginning – providing career counseling and mentoring to City
Year volunteers, and working directly with children in the South Bronx
to deliver environmental, health and safety education and improve school
and after-school facilities.

In honoring Klaus, City Year New York Executive Director Itai Dinour
told the crowd, “We are excited to honor and celebrate Klaus Kleinfeld
and our friends at Alcoa. Since 2004, Alcoa has served as a flagship
partner investing in City Year and the Hunts Point community, to help
the students of PS48 reach their academic potential.

“Alcoa’s commitment to New York City, to the education of its young
students, and to the idea that young people, through a year of full time
service, can tackle our nation’s greatest challenges is inspiring.”

About Alcoa

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 Alcoa Foundation

Alcoa Foundation is a nonprofit U.S. corporate foundation with assets of
approximately US$415 million. In addition to addressing locally
identified needs in communities where Alcoa operates, Alcoa Foundation
is focused on unlocking solutions to critical environmental
sustainability challenges, including global climate change. Alcoa
Foundation has been a long-term partner in Alcoa communities worldwide
for more than fifty years, investing over US$515 million since 1952. The
work of Alcoa Foundation is further enhanced by Alcoa’s thousands of
employee volunteers, who in 2009 gave over 650,000 service hours to
strengthen the social fabric of their communities. More information can
be found at www.alcoa.com/foundation.

About City Year New York

City Year New York mobilizes 17-24 year olds to combat the high school
dropout crisis by serving as tutors, mentors, and role models in
high-need New York City public schools. In partnership with school and
community leaders, City Year’s diverse teams identify and employ early
intervention strategies focused on the three dropout risk factors (1)
poor attendance, (2) disruptive behavior, (3) failure to read and do
math at grade level. City Year’s corps members are in elementary and
middle schools from before the first bell rings through the after-school
program. They provide small group tutoring, ensure that students show up
to school and get there on time, and create a positive school
environment. Over the last three years, 12 schools that partner with
City Year saw at least a 15% increase in students achieving proficiency
or above on the English Language Arts Exam. Noteably, PS/IS 50 saw a 32%
increase and PS 335 saw a 42% increase in students achieving this level.
During the 2009 school year, 48 out of the 50 students tutored by City
Year at PS 154 passed the ELA. At PS/IS 50, all of the students
increased their ELA scores by an average of 20%. More information can be
found at www.cityyear.org.