ALSTOM to build two cruise ships for Festival
Cruises

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ALSTOM, through its subsidiary Chantiers de l'Atlantique,
has signed a new contract with the Greek shipowner Festival
Cruises. This contract concerns the order for two cruise ships
announced in March 1999, at that time one being a firm order
and one an option.

The contract confirms the option on the second vessel and
also stipulates that both ships will be larger than originally
planned. The capacity of both ships will be increased from 625
to 750 cabins and their length from 226 to 251 meters.

These two sister ships will be equipped with 'podded'
propulsion systems, allowing for maximum manoeuvrability over
360°. They are due for delivery in June 2001 and March
2002.

The order will be booked upon finalisation of the
financing.

Festival Cruises already operates the MISTRAL cruise ship,
delivered by Chantiers de l'Atlantique last June.

This latest contract allows ALSTOM to confirm its position
as world leader in the cruise ship market.