ALSTOM wins major order to supply a combined-cycle power
plant in Vietnam

GT13E2 technology
will help to meet the growing demand for electrical power
in Vietnam

ALSTOM, in consortium
with Marubeni Corporation, Japan and Vietnam Machinery Erection
Co. ('LILAMA'), has been awarded a turnkey contract to build a
450 MW combined-cycle power plant in the existing Phu My power
complex located in the Baria Vung-Tau province of the Socialist
Republic of Vietnam.

The contract, worth
around 238 million euro, with an ALSTOM share of approximately
165 million euro, was placed by Electricity of Vietnam (EVN),
the National Utility. The Phu My 4 combined-cycle plant will be
operational by mid-year 2004 and will strongly support the
power development programme in the country.

ALSTOM, as consortium
leader, will supply two GT13E2 gas turbines, including
generators, the Heat Recovery Steam Generators (HRSG's) and the
steam turbine generator. In addition, ALSTOM will also be
responsible for the main mechanical equipment and control
system of the power island. This consortium arrangement
reflects the strengths of ALSTOM in co-operating successfully
with overseas companies.

ALSTOM has delivered
GT13E2 technology to Phu My previously. In early 1997, two gas
turbines were commissioned on schedule in simple-cycle mode and
since then they have been running smoothly, supplying power to
the Vietnamese grid. In 2001, ALSTOM was awarded another order
to convert the existing GT13E2 simple-cycle plant into a
combined-cycle installation, gaining an additional power
generation capacity of 160 MW which is scheduled for completion
in the spring of 2003. This new order confirms, once again,
EVN's confidence in and satisfaction with ALSTOM s technology
and services.

The order brings the
total of GT13E2 machines sold to 77 units. The fleet has
accumulated more than 1,300,000 operating hours.

ALSTOM is the global
specialist in energy and transport infrastructure. The Company
serves the energy market through its activities in the fields
of power generation and power transmission and distribution,
and the transport market through its activities in rail and
marine. In fiscal year 2001/02, ALSTOM had annual sales in
excess of ¬ 23 billion and employed more than 118,000
people in over 70 countries.

ALSTOM is listed on the
Paris, London and New York stock exchanges.

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