ALSTOM to build two new fast ferries for Greece

ALSTOM, through its subsidiary ALSTOM Leroux Naval, has just
registered an order worth over 100 million euros to build two
high speed ferries for the Greek company Nel Lines : a Corsaire
14000 and a Corsaire 10000.

The Corsaire 14000 is a 140 metre long ship, which has the
capacity to carry 1800 passengers and 400 cars, at a speed of
more than 40 knots. The Corsaire 10000, 103 metres long, can
carry 800 passengers and 190 cars at a speed of 35 knots.

This order follows the one placed last year by the same
ship-owner for a Corsaire 12000-type unit (120 metres, 1000
passengers, 210 cars, 36 knots). This ship is currently being
built at ALSTOM's Lorient shipyard and is scheduled for
delivery at the end of the first quarter 2000.

These high-technology mono-hull vessels are equipped with a
high resistance steel hull and one of the most advanced
stabilisation systems. They are designed to sail at high speed
in the highest conditions of comfort and safety, and are
particularly appropriate for the eastern Mediterranean seas
which can occasionally be difficult.

The financial arrangements should be finalised within two
months.

The delivery of these two new units will take place
mid-2001. They will be built at ALSTOM's Lorient and Saint Malo
shipyards in Western France.

Nel Lines, based on the island of Lesvos, is one of the
largest ferry operators in the Aegean sea; the company is
listed on the Athens Stock Exchange.

This latest order confirms ALSTOM's leading position in the
market for high-speed ships. The Company is currently building
for the Société Nationale
Corse-Méditerranée (Corsica) a Corsaire 13000-type
high speed ferry (134 metres, 1200 passengers, 350 cars and 42
knots).

ALSTOM's Marine Sector, the n°1 builder of large passenger
ships world-wide, recorded orders of approximately 2 billion
euros in 1998/99.

ALSTOM is a world leader in the energy and transport
infrastructure markets. Present in more than 60 countries,
ALSTOM is organised in six sectors, Energy (through ABB ALSTOM
POWER, the 50-50 joint company created with ABB), Transmission
& Distribution, Transport, Industry, Marine and
Contracting, all of these being supported by the ALSTOM
Network.