ALSTOM's financing plan approved at General Shareholders' Meeting

As anticipated this morning, the 25% quorum was not obtained
for the 16th resolution in respect of the capital increase by
debt-to-equity swap reserved for the French State.

Consequently, at the Ordinary and Extraordinary
Shareholders Meeting held today in Paris, ALSTOM
presented to its shareholders an amendment to the structure of
the financing plan announced on 26 May this year.

All resolutions proposed to the vote of the shareholders
were adopted with over 90% of the vote, which allows ALSTOM to
fully implement the amended financing plan.

Summary of the voting results:


-The amended 14th resolution relating to the capital increase
with preferential subscription rights for up to a maximum
amount of 1.7 billion was approved with 90.5% of the
vote.


-The  amended 15th resolution relating to the capital
increase by debt-to-equity swap for up to a maximum amount
of  700 million, reserved for creditors other than
the French State, was approved with 90.5% of the vote.

The vote in favour of these resolutions authorises ALSTOM to
launch a capital increase with preferential subscription rights
for up to a maximum amount of 1.7 billion, payable
either in cash or by conversion of debt due and payable, as
well as a capital increase by debt-to-equity swap for up to a
maximum amount of 700 million, reserved for creditors
other than the French State, with the objective of a total
maximum amount of these capital increases at 2.2
billion.

We note that the total capital increase being made through
the preferential rights is exercisable either in cash or by
conversion of debt that is due and payable. The subscription
price for the conversion of debt will of course be the same as
that for the debt-to-equity swap, i.e. 25% to 35% higher than
that of the capital increase in cash.

The French State has committed to exercising its
preferential subscription rights in an amount of 185
million in cash. It will also subscribe to this capital
increase by conversion of debt up to a maximum of 500
million within the limits of its preferential subscription
rights or of any shares which may be available after the
exercise of preferential rights by the other shareholders, to
the extent that its total shareholding does not exceed 31.5% of
the capital of the Company.

Patrick Kron, Chairman and Chief Executive of ALSTOM, said :
« I would like to thank our shareholders for the
confidence they have shown us  today by approving this
financing plan. This comes after the agreement from our banks
on new covenants and the approval from the European
Commission.

All authorisations are now in place to allow us to launch
the capital increases taking into account the market
conditions. »

This press release does not constitute an offer to purchase
securities or a solicitation of an offer to purchase
securities.  No securities will be offered or sold by us
in any country, including the United States of America, where
such offer or sale would not be permitted prior to the
registration or approval of such offer or sale in accordance
with applicable local laws. Specifically, no securities will be
offered or sold in the United States unless a registration
statement has been filed and declared effective or an exemption
from registration is available.  Any offering will only be
made by means of a prospectus prepared and made available for
such purpose by the company and filed with the securities
authorities (in the case of a public offering) or exempted from
any such filing requirement.  Such a prospectus will
contain detailed information about the company and its
management, including its financial statements and a
description of its business and strategy.

Relations presse:


S. Gagneraud / G. Tourvieille


(Tél. +33 1 47 55 25
87)                    

internet.press@chq.alstom.com 

Relations investisseurs:


E. Châtelain


(Tél. +33 1 47 55 25 33)

investor.relations@chq.alstom.com 

M Communications:


L. Tingström


(Tel. + 44 789 906 6995)

tingstrom@mcomgroup.com

Internet:
http://www.wcm.alstom.com