IntraLinks Helps Alcoa Take Asset Sales Online
Aluminum giant uses virtual datarooms to simultaneously divest several non-core businesses

New York, November 12, 2003
IntraLinks, the leading provider of virtual data rooms to the M&A community, today announced that Alcoa (NYSE:AA), the world's leading producer of primary aluminum, is using IntraLinks’ virtual data rooms for Alcoa’s previously announced sale of several non-core assets. The agreement with IntraLinks follows Alcoa’s announcement in January that it will sell off non-core assets and marks the first time Alcoa is using virtual data rooms instead of traditional, physical rooms to manage the due diligence process. In addition to using IntraLinks to manage the due diligence process, Alcoa will also use the service in the marketing and closing phases of the process.

Alcoa attributed the complexity of running multiple concurrent deals, as well as the global nature of potential buyers, as key reasons for taking its M&A process online. The size and scope of Alcoa’s divestiture program includes businesses accounting for more than $1 billion in total revenues.

“To manage multiple physical data rooms in multiple countries would incur prohibitive costs, both in time and money,” says Barbara Jeremiah, Executive Vice President, Corporate Development, at Alcoa. “We know there are many companies – both U.S. as well as international – who may be interested in buying these assets, but are reluctant to fly halfway around the world, sometimes more than once, to examine the documents. Taking the process online with IntraLinks solves many logistics problems, and will ultimately result in better returns for our shareholders as well as an expedited process overall.”

Traditionally, investment banking professionals and sellers set up physical rooms filled with confidential information about a transaction for the due diligence process. Prospective buyers travel to these rooms to examine documents for days at a time. Physical data rooms ensure security and confidentiality by allowing only one M&A team to visit a room at any time – a process that greatly increases time and expense.

With IntraLinks, documents are uploaded to a secure virtual data room, where authorized prospective buyers access them anytime, anywhere through a Web browser. Any number of M&A teams, with multiple representatives from each firm, can examine documents simultaneously while maintaining confidentiality.

“The complexity of Alcoa’s divestiture reflects ongoing challenges in the M&A industry today,” says Patrick J. Wack, President and CEO of IntraLinks. “Regulatory scrutiny is forcing buyers to take more time to examine financial statements. US economic conditions are compelling sellers to seek out both domestic and international buyers, and all the while volatile markets are making windows of opportunity for M&A deals smaller and smaller. Placing the Internet at the center of an M&A process not only addresses these new concerns but substantially improves on the old way of doing business.”

IntraLinks has witnessed 500% growth in online M&A users in Q3 2003 over Q3 2002, and a 233% increase in the number of deals done in the same period.

About Alcoa
Alcoa is the world's leading producer of primary aluminum, fabricated aluminum and alumina, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses as a single solution to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap(R) aluminum foil, Alcoa(R) wheels, and Baco(R) household wraps. Among its other businesses are vinyl siding, closures, precision castings, and electrical distribution systems for cars and trucks. The company has 127,000 employees in 40 countries.

About IntraLinks
IntraLinks (www.intralinks.com), the leading provider of digital workspaces, connects business communities and accelerates the intelligent flow of information and documents among participants. Through IntraLinks' secure, neutral, online environments, companies are better able to compete globally by accelerating essential business processes, simplifying communication, and fostering rapid workflow. IntraLinks is easily accessible anywhere, anytime using a web browser.

Since April 1997, more than 100,000 participants representing over 3,000 companies worldwide have used IntraLinks digital workspaces to communicate and collaborate on more than 10,000 projects and transactions. IntraLinks has been rapidly adopted by the financial services and pharmaceutical markets. Over 100 global companies are IntraLinks clients, including AstraZeneca Pharmaceuticals LP; Bank of America; Bank One; Bear Stearns; Deutsche Bank; Dresdner Kleinwort Wasserstein; Ernst & Young; FDIC; Houlihan Lokey Howard & Zukin; International Finance Corporation (World Bank Group); JPMorgan Chase; TD Securities; Thomas Weisel Partners; Wachovia Securities; and WestLB. Founded in June 1996, IntraLinks is headquartered in New York with offices in Boston and London.