Howmet Aerospace Inc. — Director's Dealing 2007

May 8, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2007-05-04

Reporting Person: CHRISTOPHER WILLIAM F (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-04	Common Stock	A	35000	—	Acquired	217638	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	7214	Indirect

Footnotes

F1: Represents a special retention stock award in the form of restricted stock units that will be paid in stock three years from the date of the grant but will be forfeited if the reporting person voluntarily leaves the company or voluntarily retires within the three-year period. Refer to the form of special retention stock award agreement filed as exhibit 10.3 to the company's Current Report on Form 8-K dated September 20, 2006 for the complete terms and conditions of the award.