Howmet Aerospace Inc. — Director's Dealing 2005

Mar 8, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2005-03-04

Reporting Person: Mack Ruth Jeannette (Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-03-04	Phantom Stock Units	$	A	140	Acquired		Common Stock (140)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock Units	$		Common Stock ()	7580	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.

F3: Includes 4,119 phantom stock units previously reported as owned directly under the Alcoa Stock Acquisition Plan (ASAP) which have vested in accordance with the provisions of the ASAP since the reporting person's last report and are now owned directly under, and are subject to the provisions of, the Alcoa Deferred Compensation Plan.

F4: As of the date of this report, the reporting person held a total of 7,580 phantom stock units under the Alcoa Stock Acquisition Plan, which vest three years after the applicable award date. Vested units become subject to the provisions of the Alcoa Deferred Compensation Plan.