Alcoa Welcomes Commerce Department Ruling on Hulett ``Dumping'' Case.

PITTSBURGH -- Alcoa (NYSE:AA) welcomed the final ruling of the U.S. Department of Commerce that Hulett Aluminium (Pty) Ltd. ("Hulett") is "dumping" certain aluminum plate in the U.S. market. In its ruling, Commerce found that Hulett's sales of aluminum plate were less than "fair value" by an average of 3.51 percent or 8 to 10 cents per pound based upon current market prices.

The final affirmative determination means that imports of covered aluminum plate from South Africa will be subject to potential antidumping duties. The International Trade Commission will make a final determination of whether the domestic industry producing similar plate is injured or threatened with injury by reason of imports from South Africa. That determination is due approximately November 22, 2004. The Commission conducted a public hearing in the case on October 5.

"We welcome the Commerce Department's final ruling that Hulett has been dumping 6000 series aluminum plate into the U.S. market. We now look forward to the injury decision of the International Trade Commission - we believe our case is a good one, as demonstrated by Commerce's ruling," said Bob Wetherbee, President of Alcoa Mill Products, the business unit producing aluminum plate. "Without dumping duties in place, we are convinced that Hulett would revert to its old ways of buying market share through illegal price cutting. If the Commission understands how important this issue is to the continued production of 6000 series aluminum alloy plate by domestic producers, it will make the proper ruling with regard to injury to the U.S. industry," he continued.

6000 series plate is used for general-purpose engineering, tooling and die applications. Alcoa manufactures 6000 series plate at its plant near Davenport, Iowa, where it employs about 2200 workers. A Kaiser facility in Trentwood, Wash. and a Pechiney plant in Ravenswood, West Virginia are the other primary U.S. manufacturers of 6000 series plate.