Howmet Aerospace Inc. — Director's Dealing 2005

Jan 18, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2005-01-13

Reporting Person: Mack Ruth Jeannette (Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-01-13	Employee Stock Option (right to buy)	$29.54	A	61700	Acquired	2011-01-13	Common Stock (61700)	Direct

Footnotes

F1: The option vests in three equal annual installments beginning January 13, 2006.

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

F3: In the aggregate, a total of 234,900 employee stock options (with various exercise prices and expiration dates) were beneficially owned by the reporting person as of the date of this report.