B747 CARGO FLC DSNDED BELOW THE INTERMEDIATE APCH ALT DUE TO HAVING THE WRONG ALTIMETER SETTING. APCH CTLR NOTICED THE ERROR AND GAVE THE CURRENT SETTING.

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WHILE DSNDING INTO ANC FOR AN APCH; THE FO WAS FLYING. THE SECOND OFFICER COPIED THE WX INFO FROM THE ATIS. HOWEVER; THE ALTIMETER SETTING WAS WRITTEN DOWN IN ERROR. THIS ATIS INFO WAS PASSED FWD TO THE CAPT AND FO DSNDING THROUGH TRANSITION ALT; THIS INCORRECT ALT SETTING WAS SET INTO BOTH THE CAPT AND FO ALTIMETER. AFTER HANDOFF BY ANC CENTER TO ANC APCH; I RPTED OUR CLRNC ALT AND ATIS INFO. ANC APCH GAVE US FURTHER DSCNT CLRNC AND ADVISED THAT NEXT INFO WAS CURRENT. THE SECOND OFFICER OBTAINED NEXT ATIS; BUT AGAIN COPIED THAT WRONG ALTIMETER SETTING AND PASSED THE INFO FWD. THE SECOND OFFICER HAD WRITTEN DOWN AN ALTIMETER SETTING OF 29.24. WE WERE CLRED TO LEVEL AT 2000 FT. ANC APCH RPTED THAT HE SHOWED US LOW; CLRED US TO DSND TO 1600 FT AND TO CHECK ATIS INFO. I INSTRUCTED THE SECOND OFFICER TO CHECK THE ATIS ONCE AGAIN AS THE FO WAS DSNDING SLOWLY. AT THIS TIME; ANC APCH AGAIN RPTED THAT WE WERE LOW AND TO CLIMB TO 1600 FT AND CHECK ALTIMETERS 29.24. WE BEGAN AN IMMEDIATE CLIMB WHILE SETTING THE PROPER ALTIMETER SETTING. OUR ALTDEV WAS APPROX 500 FT. FROM THIS POINT; THE FLT WAS CONTINUED TO DEST WITHOUT FURTHER INCIDENT.