Howmet Aerospace Inc. — Director's Dealing 2007

Sep 4, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2007-08-31

Reporting Person: CHRISTOPHER WILLIAM F (Executive Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-08-31	Phantom Stock Units	$	A	79	Acquired		Common Stock (79)	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. The reporting person may transfer the phantom stock into an alternative investment account under the Plan at times permitted under the Plan.