Howmet Aerospace Inc. — Director's Dealing 2007

Jan 5, 2007

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: ALCOA INC (AA)
CIK: 0000004281
Period of Report: 2007-01-01

Reporting Person: Lucot Joseph R (VP - Corporate Controller)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	36116.6234	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$36.035	2012-01-11	Common Stock (24000)		Direct
Employee Stock Option (right to buy)	$41.82	2009-01-13	Common Stock (20020)		Direct
Employee Stock Option (right to buy)	$45.00	2010-01-14	Common Stock (28558)		Direct
Employee Stock Option (right to buy)	$39.4008	2008-01-13	Common Stock (18050)		Direct
Employee Stock Option (right to buy)	$34.975	2011-01-12	Common Stock (6238)		Direct
Employee Stock Option (right to buy)	$35.265	2011-01-12	Common Stock (5472)		Direct
Employee Stock Option (right to buy)	$38.425	2011-01-12	Common Stock (11316)		Direct
Employee Stock Option (right to buy)	$22.555	2013-01-10	Common Stock (21066)		Direct
Employee Stock Option (right to buy)	$35.655	2010-01-15	Common Stock (23000)		Direct
Employee Stock Option (right to buy)	$29.54	2011-01-13	Common Stock (30000)		Direct
Phantom Stock Units	$		Common Stock (164)		Direct

Footnotes

F1: The phantom stock units were acquired under the Alcoa Deferred Compensation Plan and are to be paid out in cash upon termination of employment with Alcoa.

F2: 1 for 1