Howmet Aerospace Inc. — Director's Dealing 2004

Jan 21, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2004-01-20

Reporting Person: KELSON RICHARD B (Exec. VP and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-20	Common Stock	S	5000	$36.18	Disposed	334095	Direct
2004-01-20	Common Stock	S	4200	$36.22	Disposed	329895	Direct
2004-01-20	Common Stock	S	800	$36.21	Disposed	329095	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8441	Indirect