Howmet Aerospace Inc. — Director's Dealing 2005

Apr 18, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2005-04-15

Reporting Person: REITAN BERNT (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-04-15	Common Stock	M	35133	$22.555	Acquired	35133	Direct
2005-04-15	Common Stock	S	35133	$29.5288	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-04-15	Employee Stock Option (right to buy)	$22.555	M	35133	Disposed	2013-01-10	Common Stock (35133)	Direct

Footnotes

F1: This option is part of an option grant that vests in thre equal annual installments beginning January 10, 2004. The installment exercised by the reporting person as reported herein vested on January 10, 2005.

F2: Employee stock options are granted without payment of consideration.

F3: In the aggregate, a total of 286,333 employee stock options (with various exercise prices and expiration dates) were beneficially owned by the reporting person as of the date of this report.