Annual Shareholders Meeting of 2 July 2003

ALSTOM's Annual Shareholders Meeting was held today,
chaired by Patrick Kron, Chairman and CEO.

All the proposed resolutions were approved by
shareholders.

In particular, shareholders have adopted:


- the 2nd resolution related to the approval of the modified
consolidated accounts,


- the 12th resolution related to the reduction of the nominal
value of the shares from 6 to 1.25,


- the 13th resolution authorising the Board of Directors to
increase the share capital of the Company by the issue of
shares, with maintenance of preferential subscription
rights.

Patrick Kron commented: "The capital increase, which our
shareholders have just approved, is an important step in our
programme to strengthen the balance sheet of the Company; it
will be implemented when we have adequate visibility on the
disposal of our Transmission & Distribution Sector and on
the refinancing of the part of our debt due to mature in the
course of next year."

As a result of the losses registered during the fiscal year
2002/2003, no dividend will be paid to shareholders for this
fiscal year.

Press relations:     S. Gagneraud/ G.
Tourvieille


                          
(Tél. +33 1 47 55 25 87/+33 1 47 55 23 15)


                          
 
internet.press@chq.alstom.com

Investor relations: J-G. Micol/A. Rebière


                          
(Tél. +33 1 47 55 26 34)


                          
 
Investor.relations@chq.alstom.com