ALSTOM completes the sale of its medium gas turbines and
industrial steam turbines businesses to Siemens

ALSTOM announces that it has now completed the major part of
the disposal of it medium gas turbines and industrial steam
turbines businesses to Siemens AG. This was the second of the
two transactions with Siemens AG announced on 28 April, by
which ALSTOM sold its industrial turbines businesses for an
enterprise value of 1.1billion and net cash proceeds of
950 million.


 


Completion of this second transaction follows receipt of formal
merger clearance from merger control authorities, principally
in the US and Europe.

The disposal of the small gas turbine business to Siemens AG
was completed on 30 April 2003.

Certain minor parts of the business have not yet been
transferred to Siemens AG pending completion of legal
procedures in some jurisdictions.

ALSTOM is a global leader 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 2002/03,
ALSTOM had annual sales in excess of 20 billion and
employed around 100,000 people in over 70 countries
worldwide.

Press enquiries:


G. Tourvieille


Tel. +33 1 47 55 23 15

internet.press@chq.alstom.com

Investor relations:


E. Chatelain


Tel.+33 1 47 55 25 33

investor.relations@chq.alstom.com