Airport Railway Link Contracts For ALSTOM In Greece And In
Korea

These
contracts have a combined value of 289 million euros for
ALSTOM

In Greece, ALSTOM, as a member of a
consortium, has won a new order to supply and construct the
electrical and mechanical elements of a new suburban line
between the city centre of Athens, and the new airport at
Spata. The consortium includes Greek companies J&P - AVAX
SA, ETETH and GNOMON SA who are responsible for the civil
works. The contract, awarded by ERGOSE, subsidiary of the
National Greek Railways, has an overall value of 326 million
euros, of which ALSTOM's share will be 134 million
euros.

ALSTOM
will be responsible for the turnkey project management and the
design engineering, and will supply the substations, the
signaling, the catenary and the track.

An
important part of this contract is the supply of a European
Rail Traffic Management System - ERTMS* which incorporates
ALSTOM's ATLAS
^TM system for signaling, train control and traffic
management. ALSTOM will provide the on-board equipment, the
interlocking, the track-side products, the control centre and
SCADA. This landmark project is one of the largest orders to
date for this proven, next-generation technology, which will
greatly improve rail network performance in Greece.

The
30-kilometre link will comprise an existing 10-kilometre
section between the city centre and city limits, which will be
renovated, and a new line linking the city limits and the
airport.

Passenger service will commence on this line in time
for the Olympic Games in the summer of 2004.

*
ERTMS: European Rail Traffic Management System is the
initiative by the European Union to create a unique
control/command system for railways to enable interoperability
throughout the European rail network. ALSTOM has been involved
in the ERTMS project from the start. Today, due to significant
testing throughout Europe, ALSTOM has already achieved great
success in the demonstration and implementation of ERTMS and
has been recently chosen by the Swiss Federal Railways to
implement this system.

In Korea, ALSTOM, as a member of the IKFC
consortium, has signed a contract with the Incheon
International Airport Railroad Co. Ltd, for the project
management and supply of equipment for a new airport railway
link between Incheon and Seoul. The total order is worth 400
million euros, of which ALSTOM's share is 155 million
euros.

The new
60 km line will link Incheon international airport with the
centre of Seoul. Both direct and commuter transit services
between the airport and the city centre are planned. This will
include a connection to the Seoul-Pusan national high speed
rail line. Commercial service is scheduled to begin in the end
of 2005.

ALSTOM
and its Korean based Company, Eukorail, created initially for
the Seoul-Pusan high speed train project, will be responsible
for the Incheon project management, system engineering and
integration, as well as the supply of the signaling equipment.
The Korean Company Rotem will also be part of the IKFC
consortium and supply the rolling stock.

Michel
Moreau, President of ALSTOM's Transport Sector, said: 'This new
order is ALSTOM's second great success in Korea in the field of
rail transport: our first order for the Seoul to Pusan high
speed train is progressing well and the first Korean-made train
has just been completed. Eukorail's experience of rail
transport in Korea will once again be of great value for the
successful completion of this new project.'

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 118,000 people in over 70
countries.

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

ALSTOM's Transport Sector, with annual sales of
4.4 billion, is an internationally leading supplier of
rolling stock, information systems, services and complete
turnkey systems to the rail industry.

Press enquiries: S.
Gagneraud / G. Tourvieille


(Tel. +33 1 47 55 25 87) -
internet.press@chq.alstom.com

Investor relations: E. Rocolle-Teyssier

(Tel.+33
1 47 55 25 78) -
investor.relations@chq.alstom.com 


internet:
www.alstom.com