X0201 42004-01-12 0000004281 ALCOA INC AA 0001127285 BELDA ALAIN J P 201 ISABELLA STREET PITTSBURGH PA 15212 1100Chairman and CEOCommon Stock2004-01-124M020000022.555A1128523DCommon Stock2004-01-124F016312736.295D965396DCommon Stock5175IBy Company 401(k) PlanEmployee Stock Option (right to buy)22.5552004-01-124M0200000D2004-01-102013-01-10Common Stock200000400000DEmployee Stock Option (right to buy)36.2952004-01-124A0155556A2004-07-122013-01-10Common Stock155556155556DEmployee stock options are granted without payment of considerationIn the aggregate, a total of 4,469,035 employee stock options (with various prices and expiration dates) were beneficially owned by the reporting person as of the date of this report.These are reload stock options granted in connection with the reporting person's exercise of outstanding options and payment of the option exercise costs by delivering previously owned shares to the Company as reported herein.Brenda Hart (Assistant Secretary), by power of attorney2004-01-14