To: The Manager
Announcements
Company Announcements Office
Australian Securities Exchange

Public Announcement 2012 - 1 AWC ALCOA REPORTS 2011 4th QUARTER RESULTS

Alumina Limited notes Alcoa Inc's fourth quarter 2011 earnings announcement.

Alcoa World Alumina & Chemicals' results for the quarter were impacted by lower aluminium and alumina prices and ongoing cost pressures. Alumina Limited CEO, John Bevan, commented, "The impact of the difficult market conditions and some restructuring initiatives on AWAC's quarterly result was partly offset by productivity gains, the transition towards index/spot pricing for smelter grade alumina and the after-tax profit of US$30 million from the sale of land in Australia, which was surplus to requirements".

Alumina Limited also notes that its 40% share of Alcoa World Alumina & Chemicals is included in Alcoa

Inc's reported Net Income Attributable to Non-controlling Interests (Alcoa NCI):

4th Quarter 2011 2011 Year-To-Date

Alcoa NCI Alcoa NCI US$28 million US$194 million

It should be noted that there are other minority interests within the Alcoa NCI. These amounts are unaudited and do not include accounting adjustments for differences between US Generally Accepted Accounting Principles and A-IFRS, and are prior to Alumina Limited's own corporate and finance costs.

Attached to this announcement is a summary of some information relating to the production of alumina. Alcoa World Alumina & Chemicals production of alumina for the fourth quarter was 15.7 million tonnes.

Alumina Limited received dividends of US$231 million for the 2011 year.

Some statements in this public announcement are forward-looking statements within the meaning of the US Private Securities Litigation

Reform Act of 1995. Forward-looking statements also include those containing such words as 'anticipate', 'estimates', 'should', 'will',

'expects', 'plans' or similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual outcomes to be different from the forward-looking statements. Important factors that could cause actual results to differ from the forward-looking statements

include: (a) material adverse changes in global economic, alumina or aluminium industry conditions and the markets served by AWAC;

(b) changes in production and development costs and production levels or to sales agreements; (c) changes in laws or regulations or policies; (d) changes in alumina and aluminium prices and currency exchange rates; and (e) the other risk factors summarised in Alumina's Form 20-F

for the year ended 31 December 2010.

For investor enquiries: For media enquiries:

John Bevan
Chief Executive Officer Phone: +61 3 8699 2601 john.bevan@aluminalimited.com

Stephen Foster

Company Secretary

10 January 2012

Scott Hinton
Hinton and Associates
Phone: +61 3 9600 1979
Mobile: +61 419 114 057

Alumina Limited

ABN 85 004 820 419

GPO Box 5411

Melbourne Vic 3001

Australia

Level 12 IBM Centre

60 City Road

Southbank Vic 3006

Australia

Tel +61 (0)3 8699 2600

Fax +61 (0)3 8699 2699

Email info@aluminalimited.com

ALUMINA LIMITED INFORMATION PACK

The purpose of this report is to provide relevant AWAC & market information

PRICING

(a) LME Linked Contracts

2,600

2,300

2,190

2,122

3 month LME, lagged by 2 months

2,592 2,584

2,554

2,495

2,422

2,328

2,210