Alcoa, United Aircraft Corporation Sign Technology Cooperation Agreement

Alcoa (NYSE:AA) and Russia's United Aircraft Corporation (UAC)
today announced they have signed an agreement whereby Alcoa will
supply UAC with advanced metallic materials, modern structural
concepts and manufacturing technologies for UAC future generation
civil aircraft. The agreement, signed today at the Moscow
International Aviation and Space Salon (MAKC 2008), includes joint
technology cooperation on next generation UAC aircraft and is part of
UAC's plan to become the third largest civil aircraft manufacturer in
the world by the year 2015.

Agreement between UAC and Alcoa in the sphere of technology
cooperation for future generation civil aircraft is a significant and
important step to further develop their technical and commercial
opportunities. The ultimate objective of this cooperation is the
implementation of these solutions on UAC modifications of commercially
manufactured aircraft for improvement of aircraft characteristics.

Taking reference to UAC and Alcoa specific competencies,
capabilities and joint interests, the main UAC-Alcoa technology
cooperation objectives will be:

-- To upgrade commercially manufactured materials as a result of
SAMARA and BK plants' investment;

-- To develop competitive and advanced metallic structures for
next generation civil aircraft using advanced metallic
materials, most modern structural concepts and manufacturing
technologies;

-- Drop-in-replacement of modern fastening elements in
commercially manufactured civil aircraft; and

-- Wide application of fastening elements in future generation
civil aircraft.

As part of the memorandum of understanding (MOU), Alcoa will open
an Aerospace Technology Centre in Russia to develop specific
competencies to support integrated product teams through:

-- Extensive testing of Russian and Western alloys and products,
including damage tolerance and fatigue, in close interaction
with Russian Institutes and Universities;

-- Evaluation of Alcoa Russian alloys and products coming from
Alcoa's Samara and Belaya Kalitva facilities;

-- Supporting certifications and qualifications of Western alloys
and products for Russian aircraft applications (beginning in
the fourth quarter of 2007);

-- Understanding of Russian aircraft design principles and rules;
and

-- Utilizing Alcoa proprietary trade-studies and design tools for
aircraft structure.

The Alcoa Aerospace Technology Centre is expected to begin work in
2008.

The technology cooperation activities will be supported by
organizing Integrated Product Teams, which will be created for the
major components for the next generation civil aircraft such as wings
and fuselage. These teams will develop, evaluate and realize the most
promising technical options in concurrent engineering process.
Integrated teams will draft joint activities plans before the end of
2007.

Materials included in the supply arrangement - which includes
proprietary alloys, heat-treated sheet and plate, hard-alloy
extrusions, and forgings -- will be supplied to UAC from Alcoa's
Samara and Belaya Kalitva aluminum fabricating plants, which are
approximately 1,000 kilometers from Moscow.

As Aleksey Fedorov, UAC President and Chairman of the Executive
Board, said, "UAC, through its vast heritage, has extensive
capabilities and knowledge in aircraft design and manufacturing.
Taking that knowledge and combining it with Alcoa's technical and
materials expertise should further strengthen our positions on the
global civil aviation market."

Helmut Wieser, Alcoa Executive Vice President and Group President
of Global Rolled Products, Hard Alloy Extrusions, Russia and Asia,
stated that Alcoa's connection to the customers and ability to supply
cutting edge materials and technologies has helped Alcoa become the
worldwide leader for the aerospace industry.

"We look forward to serving UAC and utilizing our expertise to
help them achieve their growth goals, understanding clearly, that
signing of the Memorandum of Understanding is a new and significant
step in development of long-term relationships between Alcoa and the
Russian aircraft industry on the whole," Wieser said.

About UAC

JSC UAC was incorporated according to the Decree #140 "On Joint
Stock Company United Aircraft Corporation" signed by RF President V.
Putin on February 20, 2006. The corporation was incorporated on
November 20, 2006. UAC's priorities include design, manufacture,
sales, maintenance, upgrades and utilization of civil and military
aircraft.

The size of UAC's chartered capital is 96.7 billion rubles.
Russian Federation holds 90.1% shares of the corporation. UAC is
formed by the following companies: Sukhoi Aviation Holding Company,
Irkut Corporation, Ilyushin Finance Corp., Komsomolsk-on-Amur Aircraft
Production Association, Joint Stock Company "Ilyushin Aviation
Complex", Nizhny Novgorod Aircraft building plant "Sokol", Novosibirsk
Aircraft Production Association, JSC Tupolev, Finance Leasing Company.

About Alcoa

Alcoa is the world's leading producer and manager of primary
aluminum, fabricated aluminum and alumina facilities, and is active in
all major aspects of the industry. Alcoa serves the aerospace,
automotive, packaging, building and construction, commercial
transportation and industrial markets, bringing design, engineering,
production and other capabilities of Alcoa's businesses to customers.
In addition to aluminum products and components including flat-rolled
products, hard alloy extrusions, and forgings, Alcoa also markets
Alcoa(R) wheels, fastening systems, precision and investment castings,
structures and building systems. The company has 122,000 employees in
44 countries and has been named one of the top most sustainable
corporations in the world at the World Economic Forum in Davos,
Switzerland. More information can be found at www.alcoa.com