Howmet Aerospace Inc. — Director's Dealing 2003

Dec 1, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2003-11-28

Reporting Person: PIZZEY G JOHN (Executive Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-28	Phantom Stock Units	$	A	76	Acquired		Common Stock (76)	Direct

Footnotes

F1: 1 For 1

F2: Phantom stock units were acquired under the Alcoa Deferred Compensation Plan and are to be paid out in cash after termination of employment.