PITTSBURGH (AP) _ Aluminum Co. of America said its fourth-quarter results will include a net gain of $138 million from ''unusual items.''

The items include: a $198 million gain from sale of real estate investments; a $13 million gain related to reorganizing British operations; a $14 million charge for difficulties in steamship operations; a $13 million charge for difficulties in Venezuelan investments, and a $46 million charge for shutdown of facilities in Lancaster, Pa., and Alcoa, Tenn., the company said Monday.