Alcoa Files Antidumping Petition Against South African Producer; Hulett Sales at Below-Market Price Damage U.S. Market.

Business Editors/Legal Writers

PITTSBURGH--(BUSINESS WIRE)--Oct. 16, 2003

Alcoa (NYSE:AA) today announced that it has filed an antidumping petition with the U.S. Department of Commerce and the International Trade Commission against imports of certain aluminum alloy rolled plate manufactured in South Africa. This material is exported to the United States by Hulett Aluminium (Pty) Limited ("Hulett"), whose unfair trade practices have damaged the U.S. industry. The antidumping petition shows that Hulett exports aluminum plate to the U.S. at dramatically lower prices than it sells the material in its home market. Those unfair sales have damaged the U.S. industry by eroding market prices below sustainable levels.

"Alcoa has not generally filed trade remedy cases," said Paul Thomas, President of Alcoa North American Fabricated Products. "However, Hulett's dumping in the U.S. market has been so blatantly unfair that it demands a response. This petition is targeted at a case where antidumping duties are necessary to restore fair competition to the market. In this instance, we feel we must defend the rules of fair trade," said Thomas.

The specific product that is the subject of the petition, 6000 series aluminum alloy rolled plate, is used for general-purpose engineering, tooling and die applications. Since Hulett dramatically expanded its shipments to the U.S. in 2000, it has captured a significant share of the U.S. market. An Alcoa facility in Davenport, Iowa, a Kaiser facility in Trentwood, Wash. and a Pechiney plant in Ravenswood, West Virginia are the primary U.S. manufacturers of 6000 series plate. Together, those plants employ approximately 4000 people.