Alcoa President and Chief Operating Officer in Employment Negotiations

August 23, 2007

Cleary Gottlieb represented Klaus Kleinfeld, the newly-elected president and chief operating officer of Alcoa, in his employment negotiations with Alcoa. Mr. Kleinfeld, 49, served most recently as President and Chief Executive Officer of Siemens AG, a global electronics and industrial conglomerate. Mr. Kleinfeld will have full responsibility for all operating activities of the company; he will be based in New York and take over his responsibilities on October 1.

Alcoa is the world’s leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry. The company has 116,000 employees in 44 countries and was named one of the most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland.