Filing of ALSTOM's Annual Report and 20F

On 17 June 2004, ALSTOM filed its annual report and 20F for
the fiscal year ended 31 March 2004. These documents include a
section on 'risk factors', as is usual practice for such
documents. ALSTOM confirms that the information contained in
the 'risk factors' section does not constitute a change in
guidance and outlook. The Company reiterates its previously
announced targets: 6% operating margin and positive free cash
flow in 2005/06.

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Press relations: 

S. Gagneraud/G. Tourvieille

Tel : +33 1 47 55 25 87

internet.press@chq.alstom.com 

Investor Relations: 

E. Châtelain

Tel : +33 1 47 55 25 33

investor.relations@chq.alstom.com