Howmet Aerospace Inc. — Director's Dealing 2005

Feb 1, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2005-01-28

Reporting Person: REITAN BERNT (Executive Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-01-28	Phantom Stock Units	$	A	19377	Acquired		Common Stock (19377)	Direct

Footnotes

F1: 1 For 1

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