Pierre Bilger decides to repay compensation received on his
departure from ALSTOM

ALSTOM's recovery plan involves significant contributions
from the Group's employees, shareholders and financial
partners. In addition, the French State has decided to give its
support to the plan. Given these exceptional circumstances, in
a letter dated 14th August 2003, Pierre Bilger, former ALSTOM
Chairman & CEO, informed the Groups Board of
Directors of his decision to waive his contractual termination
entitlements, as well as any form of remuneration due after
11th March 2003, i.e. a gross total of 4.1 million. As a
consequence, Pierre Bilger will repay the related sums to
ALSTOM.

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S. Gagneraud

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87)                    

internet.press@chq.alstom.com

Investor Relations:

J-G. Micol

(Tél. +33 1 47 55 26 04)

Investor.relations@chq.alstom.com