Howmet Aerospace Inc. — Director's Dealing 2004

Jan 15, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2004-01-13

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-13	Common Stock	S	4500	$35.25	Disposed	359595	Direct
2004-01-13	Common Stock	S	500	$35.24	Disposed	359095	Direct
2004-01-14	Common Stock	S	1700	$35.31	Disposed	357395	Direct
2004-01-14	Common Stock	S	3300	$35.32	Disposed	354095	Direct
2004-01-14	Common Stock	S	4100	$35.37	Disposed	349995	Direct
2004-01-14	Common Stock	S	900	$35.38	Disposed	349095	Direct
2004-01-14	Common Stock	S	5000	$35.70	Disposed	344095	Direct
2004-01-14	Common Stock	S	5000	$36.00	Disposed	339095	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8443	Indirect